# Lokesh Santoshji Agarwal vs Arpana W Flour Mills Private Limited

> NCLT judgment dated 6 May 2026. Citation: TCN-2026-NCLT-00479. Lokesh Santoshji Agarwal (Operational Creditor/Applicant), a proprietorship firm supplying…

- **Court:** NCLT
- **Order date:** 6 May 2026
- **Citation:** TCN-2026-NCLT-00479
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/lokesh-santoshji-agarwal-vs-arpana-w-flour-mills-private-limited-t96ob

## Summary

### Background

Lokesh Santoshji Agarwal (Operational Creditor/Applicant), a proprietorship firm supplying grains, filed an application under Section 9 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Arpana W Flour Mills Private Limited (Corporate Debtor), a private limited company engaged in flour milling. The Applicant claimed an operational debt of Rs. 2,03,77,512/- arising from the supply of wheat and other agri-commodity products since FY 2017-2018. The Corporate Debtor was converted to a Private Limited Company on 23.07.2020. The last invoice date was 06.05.2021, and the date of default was determined as 21.06.2021, after considering the 45-day payment term.

## Facts

Lokesh Santoshji Agarwal (Applicant/Operational Creditor) filed an application under Section 9 of the IBC, 2016, to initiate CIRP against Arpana W Flour Mills Private Limited (Corporate Debtor).

The Applicant claimed an operational debt of Rs. 2,03,77,512/- for the supply of agri-commodity products (Wheat) to the Corporate Debtor since FY 2017-2018.

The Corporate Debtor was converted into a Private Limited Company on 23.07.2020, and outstanding balances were transferred to its name.

The last invoice date was 06.05.2021, and the date of default, calculated as 45+1 days after the payment due date, was 21.06.2021.

The Operational Creditor issued a legal notice for outstanding dues on 21.04.2024.

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## Issues and analysis

### Issue 1: Whether the application filed by the Operational Creditor under Section 9 of the IBC, 2016, is …

**Ratio:** Section 18(1) of the Limitation Act, 1963, provides that an acknowledgment of subsisting

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**Reasoning:** The Operational Creditor issued a legal notice on 21.04.2024, which was within the

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**Interpretation:** The Tribunal interpreted Section 18 of the Limitation Act to mean that a

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**Application:** Given the Corporate Debtor's acknowledgment of debt on 03.06.2024, the

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Lokesh Santoshji…
- **Respondents:** Arpana W Flour…
- **Other parties:** Insolvency and…; Corporate…; +6 more

## Timeline

- **2017-04-01 — Start of Business…**: Operational Creditor and Corporate Debtor entered into a business relationship for supply…
- **2020-07-23 — Corporate Debtor…**: Arpana W Flour Mills Private Limited was converted into a Private Limited Company, and…

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