# In the matter of Unique Roof Private Limited IA(IB)-158-2020 in IBA-316-2019

> NCLT judgment dated 2020-09-29. Citation: TCN-2020-NCLT-00502. The case involves an application (IA (IB)/158/2020) filed by the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 29 Sept 2020
- **Citation:** TCN-2020-NCLT-00502
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unique-roof-private-limited-iaib-158-2020-in-iba-316-2019-022cda4f

## Summary

### Background

The case involves an application (IA (IB)/158/2020) filed by the Resolution Professional (RP) of M/s. Unique Roof Private Limited under Section 17, 18, 20, 25(2)(b) read with Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking direction from the tribunal to the respondent, Tussor Machine Tools (I) Pvt. Ltd., to pay the outstanding balance for the supplies made by the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2019. The respondent argued that the application is barred by limitation, as the last payment was made on 03.02.2016, and the application was filed beyond the three-year limitation period.

## Facts

M/s. Unique Roof Private Limited (Corporate Debtor) supplied structural materials to Tussor Machine Tools (I) Pvt. Ltd. (Respondent). The Respondent issued Purchase Orders PO-CAP/21/15-16 dated 12.01.2016 and PA/2388/15-16 dated 08.02.2016. The Corporate Debtor raised invoices for a total sum of ₹13,79,440/-, with the last invoice dated 09.02.2016. The Respondent paid ₹12,36,941/-. A balance of ₹1,42,499/- was claimed to be due, with interest at 18% p.a., bringing the total claim to ₹2,43,095/-. The Respondent made an advance payment of Rs.6,30,000/- on 14.11.2015, being 50% of the contract value. The CIRP was initiated on 04.10.2019. The Respondent argued that the application was barred by limitation, as the last payment was made on 03.02.2016, exceeding the

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## Issues and analysis

### Issue 1: Whether the application filed by the Resolution Professional is barred by limitation under the …

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

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**Reasoning:** The tribunal considered the Supreme Court's ruling and the report of the Insolvency Law

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**Interpretation:** The Limitation Act, 1963, applies to applications under the IBC, 2016. The

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**Application:** In this case, the last payment was made on 03.02.2016, and the CIRP was

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** MUTHUIAH THEVAR…
- **Respondents:** Unique Roof…; Tussor Machine…
- **Advocates:** Suraj Chandrasekar…

## Timeline

- **2016-01-12 — Purchase Orde…**: Respondent issued Purchase Order No.…
- **2016-02-08 — Purchase Orde…**: Respondent issued Purchase Order No.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 17 — Management of affairs of corporate debtor by…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-17)

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