# In the matter of Sabre Helmets Pvt. Ltd. CP No. 1333-I&BP-2017

> NCLT judgment dated 2017-10-03. Citation: TCN-2017-NCLT-00328. The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 3 Oct 2017
- **Citation:** TCN-2017-NCLT-00328
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sabre-helmets-pvt-ltd-cp-no-1333-ibp-2017-2f4d7672

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code (IBC) by an Operational Creditor, Machhar Polymer Pvt. Ltd., against the Corporate Debtor, Sabre Helmets Pvt. Ltd. The petition was based on unpaid invoices for polymers supplied to the Corporate Debtor. The Petitioner raised invoices dated 31.07.2014 for ₹3,57,160 and 16.09.2014 for ₹2,49,184. The Petitioner issued a Section 8 Notice on 10.06.2017 under the IBC due to non-payment. The petition was filed on 22.08.2017.

## Facts

Machhar Polymer Pvt. Ltd. (Operational Creditor/Petitioner) filed a Company Petition under Section 9 of the Insolvency & Bankruptcy Code (IBC) against Sabre Helmets Pvt. Ltd. (Corporate Debtor) for unpaid invoices. The Petitioner claimed that the Corporate Debtor failed to pay for polymers supplied. Two invoices were raised: one dated 31.07.2014 for ₹3,57,160 and another dated 16.09.2014 for ₹2,49,184. A Section 8 Notice was issued on 10.06.2017. The petition was filed on 22.08.2017. One of the invoices, dated 31.07.2014, was time-barred by the time the petition was filed. The Petitioner argued that since the Section 8 notice was issued when both invoices were within limitation, the composite claim should be considered within limitation. The Corporate Debtor did

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## Issues and analysis

### Issue 1: Whether the petition should be admitted u/s 9 when one of the invoices is time-barred by the time …

**Ratio:** The Limitation Act is applicable to proceedings under the Insolvency and Bankruptcy Code

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**Reasoning:** The court reasoned that including a time-barred claim along with a claim within

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**Interpretation:** The court interpreted that the IBC, while a special enactment, does not operate

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**Application:** The court applied the ratio to the facts by determining that since one of the

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Machhar Polymer…
- **Respondents:** Sabre Helmets…
- **Advocates:** Shyam Ka…

## Timeline

- **2014-07-31 — Invoice R…**: Petitioner raised an…
- **2014-09-16 — Invoice R…**: Petitioner raised an…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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