# In the matter of Nadia Constructions Private Limited

> NCLT judgment dated 2023-07-20. Citation: TCN-2023-NCLT-05278. M/S Shristi Construction, an operational creditor, filed an application under Section 9 of the…

- **Court:** NCLT
- **Order date:** 20 Jul 2023
- **Citation:** TCN-2023-NCLT-05278
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/nadia-constructions-private-limited-c598d896

## Summary

### Background

M/S Shristi Construction, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Nadia Constructions Private Limited, the corporate debtor, due to unpaid dues for construction work.

## Facts

M/S Shristi Construction, an operational creditor, filed an application under Section 9 of the IBC to initiate CIRP against Nadia Constructions Private Limited.

The operational creditor and corporate debtor entered into a development agreement on 18th January, 2010 for construction of five residential towers.

The operational creditor claims that it completed the construction work and raised invoices, which were acknowledged by the corporate debtor.

The corporate debtor made part payments against the bills raised, with the last payment of Rs. 2 lakhs made on 20.02.2020.

The operational creditor served a demand notice under Section 8 of the IBC on 15th February, 2022, for a total debt of Rs. 4,43,65,135/-.

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor is barred by limitation under the …

**Ratio:** The application is not barred by limitation due to acknowledgements of debt and part

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**Reasoning:** The court considered the list of dates and events, including the construction activity

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**Interpretation:** Section 18 of the Limitation Act allows for a fresh period of limitation to be

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**Application:** The court applied Section 18 of the Limitation Act, considering the part

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## Parties

- **Judges:** BIDISHA BA…; Balraj…
- **Appellants:** M/S SHRISTI…
- **Respondents:** NADIA CONSTRUCTION…
- **Other parties:** Goutam Muk…
- **Advocates:** Kalyan Kr.…; Suman Sen…; +4 more

## Timeline

- **2010-01-18 — Development A…**: Parties entered into a Development Agreement…
- **2012-06-30 — Construction…**: Construction activity was undertaken…

## 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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