# M/S SAARTHAK VANIJYA INDIA PVT. LTD. vs. M/S INTERNATIONAL PRINT-O-PAC LIMITED

> NCLT judgment dated 2026-09-18. Citation: TCN-2026-NCLT-01069. M/s Saarthak Vanijya India Pvt. Ltd. (Operational Creditor) filed an application under Section…

- **Court:** NCLT
- **Order date:** 18 Sept 2026
- **Citation:** TCN-2026-NCLT-01069
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ms-saarthak-vanijya-india-pvt-ltd-vs-ms-international-print-o-pac-limited-zpcii

## Summary

### Background

M/s Saarthak Vanijya India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s International Print-O-Pac Limited (Corporate Debtor). The application was based on an unpaid operational debt of Rs. 7,29,27,564/- for the supply of printing paper. The Corporate Debtor contested the application, primarily on grounds of limitation and the existence of a pre-existing dispute.

## Facts

M/s Saarthak Vanijya India Pvt. Ltd. (Applicant/Operational Creditor) filed an application under Section 9 of the IBC, 2016.

The application seeks initiation of CIRP against M/s International Print-O-Pac Limited (Respondent/Corporate Debtor).

The Corporate Debtor failed to make payment of a total sum of Rs. 7,29,27,564/-.

A demand notice dated 24.02.2025 under Section 8 of the Code was served on the Corporate Debtor.

The Corporate Debtor was incorporated on 11.12.1981 under the Companies Act, 1956, with its registered office in New Delhi.

The Applicant and Corporate Debtor were engaged in business transactions for the supply of printing paper since July 2015.

…

## Issues and analysis

### Issue 1: Whether the present Petition …

**Ratio:** An unequivocal acknowledgement of debt before the expiry of the original limitation

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**Reasoning:** The right to apply accrued on 28.01.2020 (last invoice date). Applying Article 137 of the

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**Interpretation:** Section 18 of the Limitation Act allows for the extension of the limitation

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**Application:** The Corporate Debtor's email dated 30.03.2022 served as a valid

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## Parties

- **Judges:** MANNI SANKARIAH…; Reena Sinh…
- **Appellants:** M/S SAARTHAK…
- **Respondents:** M/S INTERNATIONAL…
- **Other parties:** Committee of…; Ex-Dire…; +3 more
- **Advocates:** Suhas Pu…; Abhishrut…; +1 more

## Timeline

- **2015-07-01 — Business Comm…**: Applicant and Corporate Debtor began business transactions for the supply of printing…
- **2019-08-01 — Payment St…**: Corporate Debtor stopped making regular…

## 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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