JUDGMENT :

ALOK ARADHE, J.

1. These appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “the Code”), are directed against the impugned judgment dated 15.10.2025 passed by the National Company Law Appellate Tribunal (NCLAT), whereby the order dated 22.01.2025 passed by the National Company Law Tribunal (NCLT), admitting two separate petitions under Section 7 of the Code and initiating the Corporate Insolvency Resolution Process (CIRP), has been affirmed.

2. The central question that arises for determination in these appeals are whether the application filed under Section 7 of the Code by the secured financial creditor was within the period of limitation.

FACTS

3. The facts giving rise to the filing of these appeals, briefly stated, are that the appellant is the erstwhile Director of Shrinathji Business Ventures Private Limited and Samaria Business Ventures Private Limited (Corporate Debtors). Two separate loans were sanctioned by Dewan Housing Finance Corporation Ltd., (DHFL) in September 2014 for sums of Rs.12 crores and Rs.11 crores, out of which Rs.11.50 crores and Rs.11 crores respectively were disbursed. The corporate debtors defaulted