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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Ashok Bhushan, J
D.N.V. Srinivasa Raju – Appellant
Versus
IDBI Bank Ltd. – Respondent
| Table of Content |
|---|
| 1. factual history of guarantee, default, and cirp initiation. (Para 1 , 2) |
| 2. parties argue limitation bar versus acknowledgment extension. (Para 4 , 5) |
| 3. settlement allows section 12a withdrawal post-admission. (Para 6 , 29 , 30 , 31 , 32 , 33) |
| 4. fresh limitation from drt recovery certificate, extended by covid orders. (Para 8 , 9 , 10 , 11) |
| 5. balance sheet notes acknowledge contingent guarantee liability. (Para 12 , 13 , 14) |
| 6. balance sheet entries constitute valid debt acknowledgment under section 18. (Para 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23 , 24 , 25) |
| 7. settlement letters provide additional limitation acknowledgment. (Para 26 , 27) |
| 8. section 7 application within limitation; nclt order upheld. (Para 28) |
JUDGMENT
(25th February, 2026)
Ashok Bhushan, J.
This Appeal by a Suspended Director of the Corporate Debtor- M/s. HIL (India) Limited has been filed challenging the order dated 30.07.2025 passed by the Adjudicating Authority (National Company Law Tribunal) Principal Bench, New Delhi admitting Section 7 application filed by the IDBI Bank Limited, the Respondent No.1 herein.
2. Brief facts of the case necessary to be noticed for deciding the Appeal are:-
2.1. M/s
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