The case involves an appeal against an order dated 06.06.2022 passed by the National Company Law Tribunal (NCLT), New Delhi, Bench-II, which dismissed a Section 7 application filed by the appellant as barred by time. The appellant, Jumbo Chemical & Allied Industries Pvt Ltd, is the financial creditor. The corporate debtor, Arjun Industries Limited, was sanctioned a Rupee Term Loan by IDBI in 1996. IDBI also entered into a Foreign Currency Loan Agreement with the corporate debtor. After availing the credit facilities, the respondent company failed to make payments. IDBI filed an Original Application before the Debt Recovery Tribunal (DRT) for recovery of the amount. During the pendency of the OA, the corporate debtor offered a One-Time Settlement (OTS). The OTS was

The case involves an appeal against an order dated 06.06.2022 passed by the National Company Law Tribunal (NCLT), New Delhi, Bench-II, which dismissed a Section 7 application filed by the appellant as barred by time. The appellant, Jumbo Chemical & Allied Industries Pvt Ltd, is the financial creditor. The corporate debtor, Arjun Industries Limited, was sanctioned a Rupee Term Loan by IDBI in 1996. IDBI also entered into a Foreign Currency Loan Agreement with the corporate debtor. After availing the credit facilities, the respondent company failed to make payments. IDBI filed an Original Application before the Debt Recovery Tribunal (DRT) for recovery of the amount. During the pendency of the OA, the corporate debtor offered a One-Time Settlement (OTS). The OTS was