# In the matter of Sahara Pure Eatables Corporation Ltd.

> NCLT judgment dated 2024-02-28. Citation: TCN-2024-NCLT-02339. 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-02339
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sahara-pure-eatables-corporation-ltd-aa852f05

## Summary

### Background

This is a Company Petition filed under section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by Srikrishna Sharma, the Operational Creditor, 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 Operational Creditor submitted that the Corporate debtor approached him through a recruitment consultant for a vacancy with regards to a post of Manager at Diary, Animal husbandry & Allied Agriculture Department in Corporate debtor's Mumbai office. The

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## Facts

Srikrishna Sharma, the Operational Creditor, filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) seeking to initiate 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 of 31.03.2022. The Operational Creditor was appointed as a Manager in the Corporate Debtor's Mumbai office, with an offer letter dated 31.08.2012, an appointment letter dated 15.10.2012, and a confirmation letter dated 13.04.2013. The Corporate Debtor regularly paid the salary from October 2012 to August 2014 but stopped paying regularly from September 2014 to May 2015, and completely stopped paying

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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,

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**Reasoning:** The Corporate Debtor argued that the last salary was received in May 2015, and the

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**Interpretation:** The limitation period for filing a petition under Section 9 of the IBC is three

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**Application:** Since the last salary was received in May 2015, the limitation period ended in

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## Parties

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