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NATIONAL COMPANY LAW TRIBUNAL
Praveen Gupta, Judicial Member, Ashish Verma, Technical Member
Renu Agarwal – Appellant
Versus
Shivam Traders and Hire Purchase Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. petitioner's deposit claim against nbfc for repayment. (Para 1 , 2 , 3 , 4 , 5) |
| 2. respondent denies: time-barred, loan not deposit. (Para 6) |
| 3. petitioner counters: covid extension, acknowledgments extend limitation. (Para 7) |
| 4. respondent: no written agreement, 9-year term implied. (Para 8) |
| 5. undisputed facts and parties' key contentions noted. (Para 9 , 10 , 11) |
| 6. limitation extended by acknowledgments and covid order. (Para 12 , 13 , 14) |
| 7. section 45qa applies to unsecured loans as deposits. (Para 15 , 16 , 17 , 18) |
| 8. oral agreements valid; no written terms required. (Para 19 , 20 , 21) |
| 9. similar agreements invalid due to conflicts. (Para 22 , 23 , 24) |
| 10. direct repayment of deposit under section 45qa(2). (Para 25 , 26) |
ORDER
1. The present petition has been filed, on 29.09.2024, by Renu Agarwal (hereinafter referred to as the ‘Petitioner’) against Shivam Traders and Hire and Purchase Private Limited (hereinafter referred to as the ‘Respondent/Respondent Company’) under Section 45QA of the Reserve Bank of India Act, 1934 (hereinafter referred to as the “RBI Act”) read with Rule 65 of NCLT Rules, 2016 (hereinafter referred to as ‘NCLT Rules’), on account of the Res
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