# In the matter of Uttara Foods And Feeds Private Limited CP (IB) 2385-MB-2019

> NCLT judgment dated 2023-06-23. Citation: TCN-2023-NCLT-05422. Horizon Agrotech filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016…

- **Court:** NCLT
- **Order date:** 23 Jun 2023
- **Citation:** TCN-2023-NCLT-05422
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/uttara-foods-and-feeds-private-limited-cp-ib-2385-mb-2019-5e90fbb5

## Summary

### Background

Horizon Agrotech filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Uttara Foods And Feeds Private Limited, claiming a default of INR 2,35,476/- for goods supplied. The petition was filed on 21.06.2019.

## Facts

Horizon Agrotech, the Operational Creditor, filed a petition under Section 9 of the IBC to initiate CIRP against Uttara Foods And Feeds Private Limited.

The Operational Creditor claimed a default of INR 2,35,476/- towards the supply of goods.

The Corporate Debtor was incorporated on 04/06/1996.

The petition was filed on 21.06.2019.

The Corporate Debtor argued that the petition was barred by limitation.

The Corporate Debtor made payments of Rs.6,04,529/- against the total invoices of Rs.8,40,005/-.

A demand notice under Section 8 of the IB Code, 2016, dated 19.02.2019, was issued to the Corporate Debtor.

The last invoice was raised on 09.02.2015, and the last payment was made on 15.12.2016.

## Issues and analysis

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

**Ratio:** The petition is barred

…

**Reasoning:** The invoices were raised more than three

…

**Interpretation:** The Adjudicating Authority interpreted the limitation period as three years

…

**Application:** Since the invoices were raised in 2015 and the petition was filed in 2019, the

…

## Parties

- **Judges:** H. V. Sub…; Shyam Babu…
- **Appellants:** Horizon Ag…
- **Respondents:** Uttara Foods And…
- **Advocates:** Pooja Y…; Sunny…; +1 more

## Timeline

- **1996-06-04 — Incorporation of…**: Uttara Foods And Feeds…
- **2016-12-15 — Date of D…**: The date of default is…

## 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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