# In the matter of Sahara Pure Eatables Corporation Ltd.

> NCLT judgment dated 2024-02-28. Citation: TCN-2024-NCLT-02349. This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 28 Feb 2024
- **Citation:** TCN-2024-NCLT-02349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sahara-pure-eatables-corporation-ltd-74cd67b6

## Summary

### Background

This is a Company Petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by the Operational Creditor, Sri Krishna Sharma, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Sahara Pure Eatables Corporation Ltd., the Corporate Debtor. The Company Petition was filed on 07.07.2022, claiming that an amount of Rs. 1,07,38,220/- was due and payable by the Corporate Debtor as on 31.03.2022. The date of default as specified in Part IV of the petition is 31.03.2022. The Corporate Debtor argued that the petition was barred by limitation and that the amount claimed was below the threshold limit.

## Facts

Sri Krishna Sharma, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Sahara Pure Eatables Corporation Ltd., the Corporate Debtor. The petition was filed on 07.07.2022, claiming that an amount of Rs. 1,07,38,220/- was due and payable as on 31.03.2022. The Operational Creditor claimed that the Corporate Debtor had approached him through a recruitment consultant for a Manager position in the Diary, Animal husbandry & Allied Agriculture Department in the Corporate Debtor's Mumbai office. He was appointed vide offer letter dated 31.08.2012, appointment letter dated 15.10.2012, and confirmation letter dated 13.04.2013. The

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## Issues and analysis

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

**Ratio:** The right to sue accrues when a default occurs. The limitation period for filing a

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**Reasoning:** The court found that the last salary received by the Operational Creditor was on

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**Interpretation:** The court interpreted the provisions of the Limitation Act in conjunction with

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**Application:** The court applied the ratio to the facts of the case, noting that the petition

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** SRIKRISHNA…
- **Respondents:** SAHARA PURE…

## Timeline

- **2012-08-31 — Offer Le…**: Corporate debtor issued offer letter to Operational Creditor for the post of…
- **2012-10-15 — Appointment…**: Corporate debtor issued appointment…

## 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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