# In the matter of Pravir Krishak vs. Bank of Baroda & Ors.

> NCLAT judgment dated 2026-01-07. Citation: TCN-2026-NCLAT-00016. The appeal was filed against the Adjudicating Authority's order dated 11.09.2025, which…

- **Court:** NCLAT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLAT-00016
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pravir-krishak-vs-bank-of-baroda-ors-a38c936d

## Summary

### Background

The appeal was filed against the Adjudicating Authority's order dated 11.09.2025, which admitted a Section 7 application filed by Bank of Baroda against C-Net Infotech Pvt. Ltd., a corporate guarantor. The appellant, the suspended director of the corporate guarantor, argued that the Section 7 application was not maintainable as the default amount was below the statutory threshold of Rs 1 Cr.

## Facts

The Adjudicating Authority admitted a Section 7 application filed by Bank of Baroda against C-Net Infotech Pvt. Ltd.

Pravir Krishak, the suspended director of C-Net Infotech Pvt. Ltd., filed an appeal against the Adjudicating Authority's order.

The appellant argued that the Section 7 application was not maintainable as the default amount was below the statutory threshold of Rs 1 Cr.

The Guarantee Deed contained clauses that limited the liability of the corporate guarantor.

The Section 7 application claimed an amount of Rs 1,37,71,961.38/-, including principal and interest.

The Bank of Baroda did not file the Section 12A application on the ground that CoC had already been constituted on 06.10.2025.

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## Issues and analysis

### Issue 1: Whether the Section 7 application was maintainable given that the claimed default amount was based …

**Ratio:** The tribunal held that the Section 7 application was not maintainable because the

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**Reasoning:** The tribunal interpreted the clauses of the Guarantee Deed, specifically Clause 1 and

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**Interpretation:** The interpretation of the Guarantee Deed is crucial in determining the

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**Application:** The tribunal applied the principle that the express agreement of the parties

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Pravir Kr…
- **Respondents:** C-Net Infotech…; Bank of B…; +1 more
- **Advocates:** Krishnendu…; Abiha Z…; +9 more

## Timeline

- **2025-09-11 — Impugned Ord…**: Date of the Impugned Order passed by the Adjudicating Authority (National Company Law…
- **2025-10-06 — Previous…**: The appeal had been disposed of by this Tribunal on 06.10.2025 with liberty to the Bank…

## 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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