# In the matter of Om Prakash Pandey Vs. Bank of India & Anr. CA(AT)(Ins) No.1451 of 2019

> NCLAT judgment dated 2020-01-02. Citation: TCN-2020-NCLAT-00610. The case involves an appeal against the Bank of India, where the bank had identified the…

- **Court:** NCLAT
- **Order date:** 2 Jan 2020
- **Citation:** TCN-2020-NCLAT-00610
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/om-prakash-pandey-vs-bank-of-india-anr-ca-1bf9d325

## Summary

### Background

The case involves an appeal against the Bank of India, where the bank had identified the appellant as a 'wilful defaulter'. The bank took steps under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. The default was committed on December 20, 2014, and the application under Section 7 of the I&B Code was considered barred by limitation.

## Facts

On December 20, 2014, the Bank of India informed that Om Prakash Pandey was identified as a 'wilful defaulter'. Subsequently, the bank took steps under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, on February 12, 2015. The application under Section 7 of the I&B Code was considered barred by limitation. The Interim Resolution Professional was directed to ensure the company remains a going concern during the pendency of the appeal.

## Issues and analysis

### Issue 1: Whether the application under Section 7 of …

**Ratio:** The principle of limitation dictates that legal actions must be brought within a

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**Reasoning:** The court noted that the default occurred on December 20, 2014, and the application under

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**Interpretation:** The interpretation of limitation laws requires a strict adherence to the

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**Application:** Given the default date of December 20, 2014, the court applied the principle of

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Om Prakash…
- **Respondents:** Bank of…
- **Advocates:** Kaushal K…

## Timeline

- **2014-12-20 — Default by Ap…**: The Bank of India informed about the process…
- **2015-02-12 — Steps Taken…**: Bank took steps under Section 13(2) of the Securitisation and Reconstruction of Financial…

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