S. Jalan has acted as the legal advisor of one of the largest infrastructure companies of the country being SPML Infra Ltd. and defended an application under Section 7 of the Code filed by a debenture holder claiming refund of money in respect of the debentures issued to her. In defence it was established that the entire partly paid debentures were forfeited in the year 2000 and no claim was made thereafter. The instant application was determined as time-barred. The party moved before the NCLAT but failed to substantiate its case either on fraud or on limitation. The said appeal was dismissed by the Appellate Court on the ground of limitation and thereby determining the legal principle that the laws of limitation as applicable on the Insolvency and Bankruptcy Code. The team was led by Samrat Sengupta, Partner along with Debayan Ghosh, Principal Associate.