# In the matter of Bank of Baroda & Ors. vs. The Regional Provident Fund Commissioner & Ors.

> NCLAT judgment dated 2025-06-04. Citation: TCN-2025-NCLAT-00355. The appeal arises from an order dated 16.06.2023 by the NCLT Mumbai Bench, which dismissed a…

- **Court:** NCLAT
- **Order date:** 4 Jun 2025
- **Citation:** TCN-2025-NCLAT-00355
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/bank-of-baroda-ors-vs-the-regional-provident-fund-commissioner-ors-2f1621bc

## Summary

### Background

The appeal arises from an order dated 16.06.2023 by the NCLT Mumbai Bench, which dismissed a Section 7 petition filed by IDBI Bank against ARM Infra & Utilities Pvt. Ltd. The petition sought to initiate CIRP based on a corporate guarantee.

## Facts

IDBI Bank sanctioned credit facilities to Wire and Wireless (India) Ltd. (later Siti Networks Ltd.), secured by a corporate guarantee from Zee Entertainment Enterprises Ltd.

ARM Infra & Utilities Pvt. Ltd. executed corporate guarantees in favor of IDBI Bank on 31.12.2014 and 29.02.2016, covering the obligations of Siti Networks Ltd.

Siti Networks Ltd.'s account was declared an NPA on 31.01.2020.

IDBI Bank issued a recall notice on 18.02.2021 and a formal demand notice on 05.03.2021 to ARM Infra & Utilities Pvt. Ltd., invoking the corporate guarantees.

IDBI Bank filed a Section 7 petition on 11.01.2023, which was dismissed by the NCLT on 16.06.2023 based on Section 10A of the IBC.

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## Issues and analysis

### Issue 1: Whether the second invocation dated 09.12.2022 reflects a fresh default with a fresh cause of …

**Ratio:** The second invocation

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**Reasoning:** The second invocation was based on a new and comprehensive computation dated 08.12.2022,

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**Interpretation:** A fresh invocation after the Section 10A period, based on a broader default,

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**Application:** The Section 7 application filed by IDBI Bank on 11 January 2023, based on the

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…; +1 more
- **Appellants:** IDBI Bank…
- **Respondents:** ARM Infra &…
- **Advocates:** Sudhir M…; Sidhartha…; +6 more

## Timeline

- **2008-11-24 — Cash Credit Facility…**: IDBI Bank sanctioned a Cash Credit facility of Rs.25 crore to Wire and Wireless (India)…
- **2014-12-31 — Corporate Guarantee…**: ARM Infra & Utilities Pvt. Ltd. executed a…

## 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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