NATIONAL COMPANY LAW TRIBUNAL

MUMBAI BENCH

COURT VI

Item No.1&109

IA(I.B.C)/ 5609(MB)2025 IN

C.P. (IB)/1072(MB)2025

CORAM:

SHRI SAMEER KAKAR SHRI NILESH SHARMA

HON’BLE MEMBER (TECHNICAL) HON’BLE MEMBER (JUDICIAL)

ORDER SHEET OF HEARING (HYBRID) DATED 04.12.2025

NAME OF THE PARTIES: Gyan Enterprises Private Limited

Vs

Samira Paramount Developers

Private Limited

For Applicant: Sr. Adv. Mr. Sudhir Makkar, Adv. Mr. Puneet Pathak, Adv.

Ms. Saumya Gupta, Adv. Ms. Aadhya Shrotriya.

For Respondent: Adv. Ms. Deepali Joshi

IBC under Sec 7

________________________________________________________________________

ORDER

IA(I.B.C)/ 5609(MB)2025

1. This IA has been filed by the Applicant in CP No.1072/2025 for seeking

the following prayers:-

a. Allow the present Application:

b. Take on record the Bank Account Statements of the Petitioner

for the period FY 2010-20 I I and FY 20 I I - 20 12 from Standard Chartered Bank and FY 20I0-20 11 from Punjab

National Bank evidencing disbursal of loan amounts to the Corporate Debtor:

c. Pass such further or other orders as this Hon’ble Tribunal may deem tit in the interests of justice. equity. and good conscience.

2. Ld. Senior Counsel Mr. Sudhir K. Makkar appears on behalf of the Applicant and states that the IA has been filed to bring on record the various bank statements of the Applicant to demonstrate that the loan amount has been disbursed to the borrower. The Bank statement attached with the IA are taken on record. The IA is accordingly allowed and disposed of. Registry is directed to place the said Bank Statements on the file of CP(IB)/1072(MB) 2025 C.P. (IB)/1072(MB)2025

1. This is an Application filed under Section 7 of the IBC for initiation of CIRP, appointment of IRP, and declaration of moratorium with respect to the Respondent Corporate Debtor.

2. The outstanding claimed in the application is Rs.57.76 Crore and date of default is stated as 18.09.2022.

3. Ld. Counsel explains that the date of default is based on the SARFAESI Notice dated 20.07.2022 and at the expiry of 60 days period as per the said notice, the date of default has been determined.

4. It was pointed out to the Ld. Counsel for the Applicant that in the notice issued under Section 13(2) of SARFAESI Act dated 20.07.2022 attached on page no.201 of the Application, it is stated that account of the Corporate Debtor turned NPA as on 31.03.2015. Ld. Counsel was asked as to if the account had turn NPA as on 31.03.2015, the date of default must have been prior to the same. Ld. counsel was asked as to whether he wants to modify the Form-1 in regard to the date of default, however, Ld. Counsel states that they want to persist with the Form 1 in its present Form.

5. Ld. Counsel for the Applicant undertakes to bring on record further audited balance-sheets of the Corporate Debtor to explain the limitation. The same may be done within a period of 10 days by filing an additional affidavit. A copy of the same is to be served upon the Respondent as well.

6. Ld. Counsel Ms. Deepali Joshi appears on behalf of the Respondent and waives issuance of notice. She seeks 10 days’ time period for filing of reply

7. The Ld. Counsel for the Respondent confirms that her client has received a copy of the Application along with all annexures. She seeks 2 weeks’ time for filing of reply post receipt of the additional affidavit.

Allowed.

8. The rejoinder may be filed thereafter by the Applicant within a further period of 10 days.

9. Ld. Counsel for the Applicant undertakes to file NeSL Form-D within a period of 10 days.

10. Relist this matter on 29.01.2026.

Sd/- Sd/-

SAMEER KAKAR NILESH SHARMA MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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