# In the matter of Deccan Tradcom Private Limited

> NCLT judgment dated 2023-07-19. Citation: TCN-2023-NCLT-05293. State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 19 Jul 2023
- **Citation:** TCN-2023-NCLT-05293
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/deccan-tradcom-private-limited-5dffa516

## Summary

### Background

State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited, claiming a default of Rs. 47,38,93,742.68 as of August 31, 2021.

## Facts

State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Deccan Tradcom Private Limited.

The claimed default amount is Rs. 47,38,93,742.68 as of August 31, 2021.

The Corporate Debtor was served through publication in two newspapers.

The Corporate Debtor did not appear despite service.

The Financial Creditor relied on various documents, including the letter of sanction of credit facilities, agreement of hypothecation, guarantee agreements, balance sheets, statement of account, loan recall notice, and demand notice.

An order was passed by DRT-I on 11th April, 2023, in favour of the Financial Creditor.

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## Issues and analysis

### Issue 1: Whether the application is filed within …

**Ratio:** A judgment and/or decree for money in favour of the financial creditor, passed by the

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**Reasoning:** The Adjudicating Authority considered the order passed by DRT-I on 11th April, 2023, in

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**Interpretation:** The limitation period for filing a Section 7 petition is calculated from the

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**Application:** The application was found to be filed within the prescribed period of

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## Parties

- **Judges:** Rohit K…; Balraj…; +1 more
- **Appellants:** State Bank of…
- **Respondents:** Deccan Tradcom…
- **Other parties:** Arun Kumar…; Dena Bank (now…
- **Advocates:** Dhiraj Tr…; Vedika S…

## Timeline

- **2021-08-31 — Date of D…**: The total amount claimed to be in default…
- **2023-04-11 — DRT-I Or…**: Order passed by Debts Recovery Tribunal-I…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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