# In the matter of Web Tech Packaging (India) Pvt. Ltd. (IB)-999(ND)-2019

> NCLT judgment dated 2019-05-20. Citation: TCN-2019-NCLT-03255. The petition was listed for arguments on the issuance of notice to the Corporate Debtor. The…

- **Court:** NCLT
- **Order date:** 20 May 2019
- **Citation:** TCN-2019-NCLT-03255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/web-tech-packaging-india-pvt-ltd-ib-999nd-2019-74f9c3a2

## Summary

### Background

The petition was listed for arguments on the issuance of notice to the Corporate Debtor. The petitioner, an operational creditor, was given an opportunity to satisfy the bench that the operational debt was a legally recoverable claim. The bench noted that the issue of limitation could be a factor.

## Facts

M/s. Siegwerk India Pvt. Ltd., an operational creditor and manufacturer of printing ink, filed a petition against M/s. Web Tech Packaging (India) Pvt. Ltd., the corporate debtor, seeking initiation of the resolution process under the IBC. Siegwerk had been supplying material to Web Tech Packaging since 2015, maintaining a running account. As per the ledger account, an amount of Rs. 7,21,050 was due. The last payment/credit was made on 2015-10-17, and the petition was filed on 2019-04-18. Three invoices were raised within the three years prior to the petition's institution, but their total amount was less than Rs. 1 lakh. Interest of Rs. 2,42,739 was unilaterally applied on 2017-08-04. The court considered the issue of limitation and the amount of the unpaid invoices.

## Issues and analysis

### Issue 1: Whether the operational debt is …

**Ratio:** The operational debt must be legally recoverable and not barred by limitation to be

…

**Reasoning:** The court considered the facts presented and found that the claim was likely barred by

…

**Interpretation:** The interpretation of the law requires that the operational debt must be within

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**Application:** The court applied this principle to the facts and determined that the claim was

…

## Parties

- **Judges:** Ina Mal…; SH. V.K. SU…
- **Appellants:** M/s. Siegwerk…
- **Respondents:** M/s. Web Tech…

## Timeline

- **2015-01-01 — Supply of Material…**: M/s. Siegwerk India Pvt. Ltd. started supplying printing ink to M/s. Web Tech Packaging…
- **2015-10-17 — Last Payment…**: The last payment or credit…

## 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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