In the matter of Nuclear Power Corporation Of India Limited Cp (Ib) 1048-MB-2019
Case brief
What is this about?
The admitted member (technical) rejected a company petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The court held that the petition was barred by the limitation period as it was filed more than three years after the date of default.
What did the court decide?
The petition was rejected as it was barred by the limitation period.
What the court decided
IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH, COURT-I
CP (IB) 1048/MB/2019
Under section 9 of the Insolvency and Bankruptcy Code, 2016
KVTEK Power Systems Private Limited [CIN: U74220DL2005PTC135994]
Reg. Office: Flat No 170 Pocket B-5 sector 8 Rohini New Delhi 110085
…Operational Creditor/Petitioner
Versus
Nuclear Power Corporation Of India Limited [CIN: U40104MH1987GOI149458] Reg. Office- 16th Floor, Centre -1, Worldtrade Centre Cuffe Parade, Colaba, Mumbai 400005 MH
… Corporate Debtor/Respondent
Order Delivered on 07.10.2022
Coram: Hon’ble Member (Judicial) : Justice P.N. Deshmukh (Retd.)
Issues for consideration
2 issues framed by the court
Whether the company petition filed under section 9 of the IBC is maintainable when filed after the statutory limitation period of three years from the date of default.
Whether the delay in filing the petition bars the adjudicating authority from admitting the application.
Parties & counsel
- petitioner
KVTEK Power Systems Private Limited
Coram
Justice P.N. Deshmukh
Shyam Babu Gautam
Case details
As recorded by the court registry
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