# In the matter of Ramkrishna Engineering Private Limited C.P(IB) No. 1448-KB-2019

> NCLT judgment dated 2022-12-29. Citation: TCN-2022-NCLT-00008. Bajrang Steelmet Trading Private Limited, the Operational Creditor, filed a petition under…

- **Court:** NCLT
- **Order date:** 29 Dec 2022
- **Citation:** TCN-2022-NCLT-00008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ramkrishna-engineering-private-limited-cpib-no-1448-kb-2019-2f40e8d9

## Summary

### Background

Bajrang Steelmet Trading Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Ramkrishna Engineering Private Limited, the Corporate Debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The petition was based on a default of Rs. 80,99,665, inclusive of interest, stemming from unpaid invoices dating back to July 2013. The Corporate Debtor denied the debt and claimed the application was barred by limitation.

## Facts

Bajrang Steelmet Trading Private Limited (Operational Creditor) filed a petition against Ramkrishna Engineering Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor claimed a default of Rs. 80,99,665, including interest, based on invoices issued in July 2013. The Corporate Debtor initially operated as a proprietorship concern before being assigned to the Corporate Debtor. The Operational Creditor supplied iron and steel products to the Corporate Debtor based on verbal orders, raising invoices after successful supply. The Corporate Debtor acknowledged the balance confirmation via email on 24 May 2016 and 03 June 2016. The Operational Creditor issued a demand notice on 04 April 2019, which was not

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## Issues and analysis

### Issue 1: Whether the application …

**Ratio:** The law of limitation dictates the time frame within which legal proceedings must be

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**Reasoning:** The court considered the timeline of events, including the invoice dates (July 2013), the

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**Interpretation:** The court interpreted the relevant provisions of the Limitation Act and the

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**Application:** The court applied the law of limitation to the facts of the case, noting that

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Appellants:** Bajrang Steelmet…
- **Respondents:** Ramkrishna…
- **Advocates:** Ratul…; Nikunj B…; +2 more

## Timeline

- **2013-07-06 — Invoices…**: Operational Creditor raised invoices for…
- **2016-05-24 — Balance Confi…**: Corporate Debtor acknowledged…

## 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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