# In the matter of Govind Jee Dairymilk Private Limited Company Petition No. (IB)-532(ND)-2022

> NCLT judgment dated 2023-03-28. Citation: TCN-2023-NCLT-04031. The case involves an application filed by M/s. SSP Private Limited ('applicant') under Section…

- **Court:** NCLT
- **Order date:** 28 Mar 2023
- **Citation:** TCN-2023-NCLT-04031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/govind-jee-dairymilk-private-limited-company-petition-no-ib-532nd-2022-164da8dc

## Summary

### Background

The case involves an application filed by M/s. SSP Private Limited ('applicant') under Section 9 of the Insolvency and Bankruptcy Code, 2016 ('Code') read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (‘CIRP') against M/s. Govind Jee Dairy Milk Private Limited. The applicant claims that the Corporate Debtor committed a default in payment of Rs. 2,48,36,383.56/-, which includes a principal amount of Rs.1,42,00,000/- and interest of Rs.1,06,36,383.56/- calculated from 01.11.2014 to 27.04.2022. The Corporate Debtor argues that the claim is based on unpaid installments as per a settlement agreement and is barred by limitation.

## Facts

M/s. SSP Private Limited ('applicant') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Govind Jee Dairy Milk Private Limited ('Corporate Debtor'). The Corporate Debtor was incorporated on 20.03.1987. The applicant and the Corporate Debtor entered into a purchase order dated 30.01.2013 for the supply, installation, and commission of a 40 TDP Milk/Baby Food Powder Plant. The applicant raised several invoices between 07.08.2013 and 29.10.2014. The Corporate Debtor issued a Completion Certificate dated 03.03.2015. The Corporate Debtor defaulted in the repayment of the invoices. The applicant sent a letter dated 16.09.2019 stating that Rs.1,62,00,000/- was outstanding. The Corporate Debtor sent a letter dated

…

## Issues and analysis

### Issue 1: Whether the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 is barred …

**Ratio:** The period of limitation for filing applications for initiation of insolvency proceedings

…

**Reasoning:** The court reasoned that the last invoice was raised on 29.10.2014, and the original

…

**Interpretation:** The court interpreted that an acknowledgement of debt or part payment must be

…

**Application:** The court applied the ratio to the facts of the case and found that the part

…

## Parties

- **Judges:** Sh. Ashok Kumar…; BINOD KUMAR…
- **Appellants:** SSP Private…
- **Respondents:** GOVIND JEE DAIRY…

## Timeline

- **2013-01-30 — Purchase Ord…**: Applicant and Corporate Debtor entered into a purchase order for the supply,…
- **2013-08-07 — Invoices…**: Applicant raised several invoices…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/govind-jee-dairymilk-private-limited-company-petition-no-ib-532nd-2022-164da8dc