# In the matter of Amit Kumar Agarwal Vs. UCO Bank & Anr. CA(AT)(Insolvency) 960-2019

> NCLAT judgment dated 18 Sept 2019. Citation: TCN-2019-NCLAT-00269. This appeal was filed by Sri Amit Kumar Agarwal, Director of M/s. Kumlai Tea and Industries…

- **Court:** NCLAT
- **Order date:** 18 Sept 2019
- **Citation:** TCN-2019-NCLAT-00269
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/amit-kumar-agarwal-vs-uco-bank-anr-ca-79a6f765

## Summary

### Background

This appeal was filed by Sri Amit Kumar Agarwal, Director of M/s. Kumlai Tea and Industries Ltd. (Corporate Debtor), challenging an order dated August 1, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench. The Adjudicating Authority had admitted an application filed by UCO Bank (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The appellant contended that the impugned order was passed ex parte without hearing the counsel for the Corporate Debtor, and that the application was barred by limitation.

## Facts

This appeal was filed by Sri Amit Kumar Agarwal, Director of M/s. Kumlai Tea and Industries Ltd. (Corporate Debtor), challenging an order dated August 1, 2019. The order was passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata, which admitted an application under Section 7 of the 'Insolvency and Bankruptcy Code, 2016' (I&B Code) filed by UCO Bank (Financial Creditor).

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## Issues and analysis

### Issue 1: Whether the application filed by UCO Bank under…

**Ratio:** An application under Section 7 of the I&B Code is not barred by limitation if it is filed…

**Reasoning:** The NCLAT reasoned that the right to apply under Section 7 of the I&B Code accrued to UCO…

**Interpretation:** The court interpreted the accrual of the right to apply under Section 7 of the…

**Application:** Applying this interpretation, the NCLAT found that the Section 7 application by…

## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Advocates:** Sukanta S…; Soumya…; +1 more

## Timeline

- **October 1, 2009 — Default oc…**: The default by the…
- **April 23, 2010 — Account decla…**: The Corporate Debtor's account was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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