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TMI Blog2024 (9) TMI 1178X X X X Extracts X X X X X X X X Extracts X X X X ..... ant was, therefore, required to inspect the documents and to pinpoint any document to show any acknowledgement upon the part of the Respondent to its debt after the year 2013. The matter was listed three times thereafter and only written submissions have been filed by the appellant, reiterating the same issue without identifying the exact document to show any acknowledgement of debt by the corporate debtor in the financial documents filed by the appellant since the year 2011-12 till 2017-18 and hence no further opportunity can be granted now. The appellant was not able to identify any entry in the trial balance or in the balance sheet or in other documents which could serve the purpose of acknowledgement of debt and thereby extension of lim ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demand notice dated 23.03.2018. As there was no reply, hence on 29.06.2018 the Operational Creditor was constrained to move an application under Section 9 of the IB Code, 2016. The defence taken by the Corporate Debtor before the Ld. NCLT was of limitation. 4. It is the submission of the appellant that it filed the company petition within three years from the date of coming into force of IB Code, 2016 per Neelkanth Township judgement. However, later the Hon ble Supreme Court on 11.10.2018 in B.K. Educational Services declared that the law of limitation shall apply from the date of default. In this regard the appellant had moved an application to bring on record the trial balance, ledger accounts, balance sheets and other financial statemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ating Authority. On 25.10.2019 the Adjudicating Authority disposed off IA 14/2019 and had directed the Respondent to produce financial documents as stated above. The corporate debtor filed an appeal before the NCLAT, being Company Appeal (AT)(Ins) No.1330/2019 against the order dated 25.10.2019 but it was dismissed vide order dated 25.11.2019. 8. Thereafter IA 11/2019 was moved by the appellant for execution of the order dated 25.10.2019 and IA 12/2019 for contempt petition for non-complying with the order dated 25.10.2019. The time was granted to the Corporate Debtor to produce the documents. Even on 11.11.2020 the time was granted to Corporate Debtor to produce financial statements. However, the Ld. NCLT later dismissed the main petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ejected, same being treated as barred by limitation. 21. We also make it clear that the observations made in this judgment are relevant only in regard to the issue determined that the application under section 9 of the code is barred by limitation and not beyond. In other words, nothing in this judgment shall have bearing on any other proceeding that shall be dealt with on its own merits and in accordance with law. 9. The matter came up before this Tribunal in the present appeal but it also dismissed the appeal vide an order dated 25.11.2022 as under:- 13. Taking all the facts aforenoted, we are of the view that there is dispute between the parties prior to filing Section 9 application regarding work in question and also invoices raised by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tentions on merits, we are of the considered view that it would be appropriate to set aside the impugned order dated 25 November 2022 of the NCLAT in Company Appeal (AT) (Insolvency) No 246 of 2021 and to restore the appeal for disposal afresh. 13 We clarify that all the rights and contentions of the parties are kept open for adjudication of the appeal on remand. 11. Admittedly on 03.12.2020 the Respondents have filed the requisite documents as were required vide order 25th October, 2019 and these are annexed as Annexure C to the reply to this appeal. The appellant was, therefore, required to inspect the documents and to pinpoint any document to show any acknowledgement upon the part of the Respondent to its debt after the year 2013. The ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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