# In the matter of Goyal Proteins Ltd. CP No. (IB)- 160-9-JPR-2020

> NCLT judgment dated 2023-06-01. Citation: TCN-2023-NCLT-05500. Cogent Engineers Private Limited, an Operational Creditor, filed an application under Section 9…

- **Court:** NCLT
- **Order date:** 1 Jun 2023
- **Citation:** TCN-2023-NCLT-05500
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/goyal-proteins-ltd-cp-no-ib-160-9-jpr-2020-9ce3f4ec

## Summary

### Background

Cogent Engineers Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Goyal Proteins Limited, the Corporate Debtor.

## Facts

Cogent Engineers Private Limited (Operational Creditor) filed an application to initiate CIRP against Goyal Proteins Limited (Corporate Debtor) under Section 9 of the IBC.

The Operational Creditor claimed a default amount of Rs. 1,16,00,306/- including interest at 18% per annum.

The Corporate Debtor argued that the application is barred by limitation, the debt is below the threshold limit, and all dues have been cleared.

The Corporate Debtor made direct payments to subcontractors with the approval of the Applicant.

The RP issued a demand notice dated 10.02.2020 under Section 8 of the Code.

The Committee of Creditors (CoC) resolved to initiate CIRP against the Corporate Debtor.

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## Issues and analysis

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

**Ratio:** Article 137 of the Limitation Act, 1963

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**Reasoning:** The Corporate Debtor argued that the limitation period expired on 31.03.2018 or

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**Interpretation:** The Adjudicating Authority interpreted the Limitation Act to determine whether

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**Application:** The Adjudicating Authority found

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## Parties

- **Judges:** Deep Chandr…; ATUL CHAT…
- **Appellants:** Cogent Engineers…; Kairav Tr…
- **Respondents:** Goyal Proteins…
- **Other parties:** Nirmal…
- **Advocates:** Ankit T…

## Timeline

- **2020-02-10 — Demand N…**: The RP raised the Demand Notice dated…
- **2020-03-07 — CoC Meet…**: The Committee of Creditors (‘CoC') has unanimously resolved for the initiation of CIRP…

## 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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