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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NARESH SALECHA, Technical Member
Vishal Singh – Appellant
Versus
Nainital Bank Limited – Respondent
| Table of Content |
|---|
| 1. appeal against nclt admission of section 7 petition. (Para 1 , 2) |
| 2. date of default determines limitation from npa declaration. (Para 3 , 5 , 6 , 8 , 9 , 10) |
| 3. bank's misconduct and mortgage invalidity alleged. (Para 11 , 12 , 13 , 14 , 15) |
| 4. date of default reckoned from rbi inspection notice. (Para 17 , 18 , 19 , 20 , 22 , 23) |
| 5. debt acknowledgments extend limitation period. (Para 21 , 24) |
| 6. dispute centers on default date and limitation. (Para 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39) |
| 7. balance sheets and letters acknowledge debt validly. (Para 40 , 41 , 42 , 43 , 44 , 45 , 46) |
| 8. icai guidance non-compliance doesn't invalidate acknowledgment. (Para 47 , 48 , 49 , 50 , 51) |
| 9. appeal dismissed; impugned order upheld. (Para 52 , 53) |
JUDGEMENT
(06.02.2026)
NARESH SALECHA, MEMBER (TECHNICAL)
1. The present appeal has been filed by the Appellant i.e., Vishal Singh, Promoter & Director of the suspended Board of Director of Corporate Debtor, Rudra Auto Tech Engineering Pvt. Ltd., under Section 61 of the Insolvency and Bankruptcy Code, 2016 (‘Code’) against the Impugned Order dated 03.06.2024 passed by the National Company Law Tribunal, Allahabad Bench
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