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TMI Blog2019 (12) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... icable provisions of the Insolvency & Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor/Respondent company i.e. Sahara Prime City Ltd. 3. The brief facts of the case are stated as under :- a. The present petition is filed by Mr. Sumit Bhattacharya as an Operational Creditor/Petitioner/Applicant who had joined the corporate debtor company i.e. Sahara Prime City Limited incorporated on 9th March, 1993, under the Indian Companies Act, 1956, having Corporate Identification No.U65921UP1993PLC015170 and registered address at Sahara India Centre, III Floor, 2-Kapurthala Complex, Aliganj, Lucknow, 226 024, as Head (Planning)- East Zone, Deputy Chief Manager, Worked on 18.09.2013. b. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the petitioner being saving bank account no.035501000697. Copy of bank statement of saving bank account is annexed as Annexure P-4. f. Thereafter, after waiting for appropriate action on part of the respondent company the petitioner sent second and last notice to the respondent company on 20.11.2-018, seeking redressal of his grievance and payment of arrears of salary since September, 2014 to May, 2015, which amounts to Rs. 1,21,250/- X 10 = 12,12,500/- and perks for a period of September, 2014 to June, 2016 of Rs. 36,750/- X 10 = 3,67,500/- but the respondent had not paid the aforesaid amount till date. g. After that petitioner had resigned from the respondent company and the same was accepted on 08.09.2015. The acceptance letter dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014 to May, 2015. 7. At this juncture, I would like to refer the relevant para of the judgment of Hon'ble Supreme Court in B.K. Educational Services (P.) Ltd. v. Paras Gupta & Associates [2018] 98 taxmann.com 213/150 SCL 293, which is as under :- 48. It is thus clear that since the Limitation Act is applicable to applications filed under Sections 7 and 9 of the Code from the inception of the Code, Article 137 of the Limitation Act gets attracted. "The right to sue", therefore, accrues when a default occurs. If the default has occurred over three years prior to the date of filing of the application, the application would be barred under Article 137 of the Limitation Act, save and except in those cases where, in the facts of the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... view, that the present claim of the applicant/petitioner is barred by Article 137 of Limitation Act. 12. So, in my opinion the present petition filed u/s 9 is barred by limitation, thus this petition is not liable to be admitted. 13. Therefore, in my opinion, since the claim is time barred under Article 137 of Limitation Act and the applicant failed to bring on record the default recorded with the information utility or such other record or evidence as maybe specified, which is necessary to proceed for admitting the petition under section 9, read with Sections 13, 14 & 33 and other applicable provisions of the Insolvency & Bankruptcy Code, 2016. 14. Accordingly, it is therefore, ORDER 15. That the prayer to initiate proceedings under ..... X X X X Extracts X X X X X X X X Extracts X X X X
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