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NATIONAL COMPANY LAW TRIBUNAL
Brajendra Mani Tripathi, J, Man Mohan Gupta, T
Small Industries Development Bank of India – Appellant
Versus
Krishnakant Bagree – Respondent
| Table of Content |
|---|
| 1. application filed under ibc against personal guarantor. (Para 1 , 2 , 3 , 4 , 5 , 6) |
| 2. respondent's arguments against the application. (Para 9 , 10 , 11 , 12 , 14 , 15) |
| 3. court's observations and analysis on limitation issues. (Para 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23) |
| 4. final decision on application based on limitation. (Para 24) |
ORDER
Delivered on 29/10/2025 The case is fixed for pronouncement of the order. The order is pronounced in open Court vide separate sheet.
JUDGEMENT
1. The Present Application is filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (Herein referred to as “IBC, 2016”) r/w. Rule 7(2) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantor to Corporate debtor) Rules, 2019 by Small Industries Development Bank of India (“Financial Creditor”) for the purpose of initiating Personal Insolvency Resolution Process against Sh. Krishnakant Bagree, Personal Guarantor to Bagree Alloys Limited for default of an amount of Rs. 13,55,61,322.44/-.
2. The Applicant/Financial Creditor herein submits that at the request of the Corporate Debtor, the Applicant/Financial Credi
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