# In the matter of Ram Kishore Arora vs. Bank of Maharashtra and Anr.

> NCLAT judgment dated 2025-08-13. Citation: TCN-2025-NCLAT-00444. The appeal was filed by the Suspended Director of M/s Supertech Realtors Private Limited…

- **Court:** NCLAT
- **Order date:** 13 Aug 2025
- **Citation:** TCN-2025-NCLAT-00444
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ram-kishore-arora-vs-bank-of-maharashtra-and-anr-2a766073

## Summary

### Background

The appeal was filed by the Suspended Director of M/s Supertech Realtors Private Limited challenging the order dated 12.06.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-IV admitting Section 7 application filed by the Bank of Maharashtra.

## Facts

A Term Loan of Rs.150 Crore was sanctioned by the Financial Creditor to the Corporate Debtor on 14.12.2012.

On 08.04.2022, a Section 7 application was filed by the Bank of Maharashtra against the Corporate Debtor claiming default for an amount aggregating to Rs.168,04,59,415/-.

The Corporate Debtor submitted an OTS offer dated 15.06.2022 acknowledging the debt.

The OTS was later rescinded by the Financial Creditor on account of non-adherence of terms by the Corporate Debtor.

The Adjudicating Authority admitted Section 7 application, appointed IRP and declared moratorium on 12.06.2024.

The lead bank acknowledged the OTS and Joint Lender Meeting was held on 18.03.2024 and OTS proposal was not accepted.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in admitting the Section 7 application filed by …

**Ratio:** The Adjudicating Authority is empowered only to verify whether a default has occurred or

…

**Reasoning:** The Appellant did not dispute the debt and default. The Adjudicating Authority was

…

**Interpretation:** The NCLAT interpreted Section 7(5) of the IBC to mean that the Adjudicating

…

**Application:** Since the debt and default were not disputed, the Adjudicating Authority's

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Ram Kishore…
- **Respondents:** Supertech…; Bank of Maharashtr…; +2 more
- **Advocates:** Abhijeet…; Siddharth…; +26 more

## Timeline

- **2012-12-14 — Loan San…**: A Term Loan of Rs.150 Crore was sanctioned by the Financial Creditor to the Corporate…
- **2018-09-28 — NPA Decla…**: The account of the Corporate Debtor was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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