# In the matter of Gactel Turkey Projects Ltd.

> NCLT judgment dated 2024-03-27. Citation: TCN-2024-NCLT-01932. Premium Transmission Private Limited, the Operational Creditor, filed a petition under Section…

- **Court:** NCLT
- **Order date:** 27 Mar 2024
- **Citation:** TCN-2024-NCLT-01932
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gactel-turkey-projects-ltd-52a765a7

## Summary

### Background

Premium Transmission Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Gactel Turnkey Projects Limited, the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for gear boxes supplied based on a purchase order dated 15.11.2011. Six invoices aggregating to Rs.40,89,691/- remained unpaid as on 04.03.2015. The Corporate Debtor made partial payments, leaving a balance of Rs.29,82,766/- outstanding. The Corporate Debtor argued that the application was time-barred and that the Operational Creditor had initiated a civil suit for the same dues, rendering the IBC petition impermissible.

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## Facts

Premium Transmission Private Limited (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Gactel Turnkey Projects Limited (Corporate Debtor). The Operational Creditor supplied gear boxes to the Corporate Debtor based on a purchase order dated 15.11.2011. Six invoices aggregating to Rs.40,89,691/- remained unpaid as of 04.03.2015. The Corporate Debtor made partial payments totaling Rs.11,06,925/-, including a payment of Rs.10,30,125/- on 18.05.2015, leaving a balance of Rs.29,82,766/-. The date of default was stated as 04.03.2015, the date of the last invoice. The Operational Creditor issued a Demand Notice dated 04.04.2018 under Section 8 of the Code. The

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## Issues and analysis

### Issue 1: Whether the application filed by the …

**Ratio:** Section 19 of the Limitation Act, 1963 states that a fresh period of limitation starts

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**Reasoning:** The NCLT found that the Corporate Debtor made a partial payment on 18.05.2015.

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**Interpretation:** The interpretation of Section 19 of the Limitation Act, 1963, is that any

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**Application:** The Corporate Debtor's partial payment on 18.05.2015 extended the limitation

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Premium Transmissi…
- **Respondents:** Gactel Turnkey…; Gactel Turnkey…

## Timeline

- **2011-11-15 — Purchase…**: Corporate Debtor raised a purchase order on the Operational Creditor for the purchase of…
- **2015-03-04 — Last Invoic…**: Date of the last invoice issued by the…

## 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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