# In the matter of Shankarsheth Enterprises Ltd. CP(IB)-50(MB)-2018

> NCLT judgment dated 2019-03-12. Citation: TCN-2019-NCLT-04468. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 12 Mar 2019
- **Citation:** TCN-2019-NCLT-04468
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shankarsheth-enterprises-ltd-cpib-50mb-2018-66e8e728

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The respondent debtor raised a legal objection stating that the invoices related to the operational debt belong to the year 2012. The petitioner did not raise any serious objection in defense.

## Facts

Melgiri Enterprises filed a petition against Shankarsheth Polymers Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming an operational debt of ₹8,43,474/-. Shankarsheth Polymers Pvt. Ltd. raised a legal objection, stating that the invoices related to the debt belonged to the year 2012. Melgiri Enterprises did not raise any serious objection in defense. The court considered the evidence on record and the position of law regarding limitation. The court found that the debt in question was barred by limitation.

## Issues and analysis

### Issue 1: Whether the petition filed by Melgiri Enterprises is maintainable given the respondent's objection …

**Ratio:** A claim is barred by limitation if the invoices related to the debt are from a period

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**Reasoning:** The court reasoned that the invoices related to the debt were from 2012, and based on the

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**Interpretation:** The interpretation of the law of limitation is that a creditor cannot initiate

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**Application:** In this case, the court applied the principle of limitation to the facts

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Melgiri Enterprise…
- **Respondents:** Shankarsheth…

## Timeline

- **2019-03-12 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2018-01-01 — Case Fil…**: CP(IB)-50(MB)/2018 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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