# In the matter of Omega Icehill Private Limited Company Petition No. IB-529-ND-2021

> NCLT judgment dated 2022-02-15. Citation: TCN-2022-NCLT-04130. The case involves an application filed by Anil Agrawal, the Operational Creditor, under Section…

- **Court:** NCLT
- **Order date:** 15 Feb 2022
- **Citation:** TCN-2022-NCLT-04130
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/omega-icehill-private-limited-company-petition-no-ib-529-nd-2021-0a4690fe

## Summary

### Background

The case involves an application filed by Anil Agrawal, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Omega Icehill Private Limited, the Corporate Debtor. The Operational Creditor was the Managing Director of the Corporate Debtor and claimed unpaid salary dues. The Corporate Debtor contested the application, raising objections regarding the existence of operational debt, limitation, and the absence of a pre-existing dispute.

## Facts

Anil Agrawal, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Omega Icehill Private Limited, the Corporate Debtor. Anil Agrawal served as the Managing Director (MD) of Omega Icehill Private Limited since its incorporation. His remuneration was initially Rs. 3,00,000/- per month from 16.01.2010, later revised to Rs. 4,00,000/- per month from 01.08.2014. The Operational Creditor claimed that he was not paid his complete salary and was illegally removed from the position of MD on 14.05.2019. He issued a Section 8 demand notice dated 07.08.2021, claiming an operational debt of Rs. 1,81,13,532/-. The Corporate Debtor responded to the demand

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## Issues and analysis

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

**Ratio:** The principle is that with every default in payment, a fresh period of limitation

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**Reasoning:** The Tribunal found that the amount in default was a continuing one, and with every

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**Interpretation:** The interpretation of the law on limitation is that a continuous default gives

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**Application:** The Tribunal applied this principle to the facts of the case, noting that the

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## Parties

- **Judges:** BACHU VENKAT…; Narender Kumar…
- **Appellants:** Anil Ag…
- **Respondents:** Omega Icehill…

## Timeline

- **2010-01-16 — Initial Remun…**: Operational Creditor's…
- **2014-08-01 — Revised Remun…**: Operational Creditor's remuneration…

## 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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