2026 (2) TMI 1216

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.... BHUSHAN CHAIRPERSON AND BARUN MITRA MEMBER (TECHNICAL) For the Appellant: Mr. Abhijeet Sinha, Sr. Advocate with Mr. Amit Dhall, Advocate. For the Respondents: Mr. Rajesh Kumar Gautam, Mr. Anant Gautam, Ms. Deepanjali Chaudhary, Mr. Rishi Chauhan, Mr. Arman Gahlot, Mr. Srijan Mehrotra Advocates. ORDER Ashok Bhushan, J. This appeal by a Suspended Director of the Corporate Debtor has ....

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....ified as NPA on 08.06.2023. 2.4 A Recall Notice dated 04.01.2024 was issued to the Corporate Debtor. The Financial Creditor has also initiated proceeding under Debts Recovery Tribunal, Allahabad by filing OA No.296 of 2024. 2.5 Application under Section 7 was filed by the Financial Creditor claiming default of Rs.74,35,42,374/- as on 30.11.2024. Date of default as per NeSL data was mentioned....

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....ich has been communicated to the Appellant. 4. Learned counsel for the Appellant challenging the order submits that the date of default mentioned in the Section 7 application was not correct date and date of NPA cannot be taken as date of default. Application was also filed after expiry of the limitation period. Debt and default has not been proved by the Financial Creditor before the Adjudicat....

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....rly proved by various offers of the OTS as relied by the Appellant in this appeal. As noted above, Appellant even after passing of the order dated 03.12.2025 have submitted OTS proposal on 30.12.2025, which has not been accepted by the Bank. Prior to aforesaid OTS proposal, the Corporate Debtor has earlier also submitted several OTS proposals which are detailed in the affidavit which were not acce....