2019 (6) TMI 965

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.... Debtor on the ground that the Petitioner supplied stainless steel ingots like scrap to the Corporate Debtor vide invoice dated 28.01.2008 for an amount of Rs.15,11,683/- out of which the Corporate Debtor did not pay a balance amount of Rs.8,27,106/-. The Petitioner has stated the outstanding debt amount as Rs.30,34,508/- including interest. The petition is received in this Tribunal on 13.12.2017, and the Petitioner has filed the Form 5 in this Tribunal on 04.06.2018. 2. The Petitioner has filed the minutes of the board resolution dated 15.05.2018 authorising him to file the present petition under I&B Code. The Petitioner has also annexed bank statement for the period 28.03.2012 to 21.05.2018 along with a certificate under section 2A of ....

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....porate Debtor demanding payment of Rs.30,34,508/- along with interest. The Corporate Debtor, vide its letter dated 23.04.2018, replied to the said demand notice of the Petition denying any amount due and payable to the Petitioner. 7. The Corporate Debtor has raised preliminary objections that the petition is barred by limitation as for the impugned invoice dated 28.03.2008 and the present petition before this Tribunal is filed almost after Ten years. It is stated that the Petitioner had filed Company Petition before the Hon'ble Bombay High Court being Company Petition (L) No. 409 of 2013for winding up on 24.06.2013 but the same was never served upon the Corporate Debtor. It is further stated that the Corporate Debtor for the first time c....

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....o be within limitation if the notice under section 434 of Companies Act demanding payment of the said claim was sent within limitation. The relevant portion of the said judgment is reproduced below: "11. After the company petition before the Bombay High Court was withdrawn on 11th November 2011, notice under Section 434(1)(a) was issued on 15th December 2011 at the registered office of the respondent company. Section 434(1)(a) requires the issue of 21 days notice for deeming fiction created by the provision to apply. However, Section 434(1)(a) cannot be strictly equated with a mandatory statutory notice like the one required under Section 80 of the Code of Civil Procedure, 1908, when a suit is to be filed against the Government. Fo....