PRABHAT STEEL TRADERS PVT. LTD Vs. JAYPRAKASH VYAS & ANR

LAWS(SC)-2021-2-13

SUPREME COURT OF INDIA

Decided on February 03,2021

Prabhat Steel Traders Pvt. Ltd Appellant

VERSUS

Jayprakash Vyas And Anr Respondents

JUDGEMENT

- (1.) Mr Abhigya Kushwah, learned counsel appearing on behalf of the appellant, submits that: (i) The National Company Law Appellate Tribunal has erroneously come to the Reason: conclusion that the acknowledgement of liability was beyond the period of limitation and that hence, the application under Section 9 of the Insolvency and Bankruptcy Code 2016 was barred by limitation; (ii) Though the date of the tax invoice was 13 December 2011, subsequent thereto, payments were made by the first respondent until 30 May 2015, when the last payment was made; (iii) Demand notices were issued on 9 June 2018 and 30 November 2018, after which the application under Section 9 was filed on 10 January 2019; and (iv) There was a confirmation of accounts on 1 April 2017.
(2.) Issue notice, returnable in four weeks.;

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