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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Ashok Bhushan, J
Jatin Mehta – Appellant
Versus
Rushabh Civil Contractors Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of the case and proceedings. (Para 1 , 2 , 3) |
| 2. arguments regarding the applicability of limitation. (Para 4 , 5 , 6) |
| 3. the court's examination of the financial debt evidences. (Para 10 , 11 , 12 , 13) |
| 4. ruling on limitation periods and debts. (Para 17 , 18 , 22) |
JUDGMENT
(29th October, 2024)
Ashok Bhushan, J.
This Appeal by a Suspended Director of the Corporate Debtor has been filed challenging the order dated 26.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court-I, admitting Section 7 application filed by the Financial Creditor through Interim Resolution Professional (IRP) (Respondent herein)
2. Brief facts of the case necessary to be noticed for deciding the Appeal are:-
2.1. The Financial Creditor- ‘Rushabh Civil Contractors Private Limited’ disbursed an amount of Rs.3.50 Crores to the Corporate Debtor on 16.12.2016. The Corporate Debtor on amount of Rs.3.50 Crores booked interest as well as TDS in its ledger. On 27.06.2022, NCLT Mumbai Bench admitted Section 7 application against the Financial Creditor. The IRP of the Financial Creditor after looking into the books of account of the Corporate Debtor came to n
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