Siddharth Satish Katariya, ex-Director of Superfine Metals Pvt. Ltd. (Corporate Debtor), appealed against an NCLT order admitting a Section 7 IBC application filed by Central Bank of India (Financial Creditor). The core dispute revolved around whether the dates of default for Cash Credit and Ad-Hoc facilities fell within the Section 10A protected period (25.03.2020 to 24.03.2021), which bars the initiation of CIRP. The Bank initially stated the default date as 29.11.2020 (within Section 10A) but later amended it to 10.03.2020 (Cash Credit) and 24.03.2020 (Ad-Hoc) to fall outside this period, after the Corporate Debtor raised the Section 10A bar.
Siddharth Satish Katariya, ex-Director of Superfine Metals Pvt. Ltd. (Corporate Debtor), filed an appeal under Section 61 of the IBC, 2016.
The appeal challenges an NCLT order dated 16.07.2026, which admitted a Section 7 application filed by Central Bank of India (Financial Creditor).
The Corporate Debtor is an MSME unit engaged in manufacturing and processing ferrous, non-ferrous, and alloy extruded products.
Central Bank of India is the Financial Creditor and Respondent No.1, while Mrs. Megha Agarwal is the Interim Resolution Professional and Respondent No.2.
The Bank originally filed the Section 7 petition claiming an aggregate default of Rs.92,45,80,781/- from Cash Credit, Term Loan, Funded Interest Term Loan (FITL), and Cash Credit Ad-Hoc facilities.
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Initial sanction of Cash Credit facility,…
Execution of Working Capital Consortium…
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Siddharth Satish Katariya, ex-Director of Superfine Metals Pvt. Ltd. (Corporate Debtor), appealed against an NCLT order admitting a Section 7 IBC application filed by Central Bank of India (Financial Creditor). The core dispute revolved around whether the dates of default for Cash Credit and Ad-Hoc facilities fell within the Section 10A protected period (25.03.2020 to 24.03.2021), which bars the initiation of CIRP. The Bank initially stated the default date as 29.11.2020 (within Section 10A) but later amended it to 10.03.2020 (Cash Credit) and 24.03.2020 (Ad-Hoc) to fall outside this period, after the Corporate Debtor raised the Section 10A bar.
Siddharth Satish Katariya, ex-Director of Superfine Metals Pvt. Ltd. (Corporate Debtor), filed an appeal under Section 61 of the IBC, 2016.
The appeal challenges an NCLT order dated 16.07.2026, which admitted a Section 7 application filed by Central Bank of India (Financial Creditor).
The Corporate Debtor is an MSME unit engaged in manufacturing and processing ferrous, non-ferrous, and alloy extruded products.
Central Bank of India is the Financial Creditor and Respondent No.1, while Mrs. Megha Agarwal is the Interim Resolution Professional and Respondent No.2.
The Bank originally filed the Section 7 petition claiming an aggregate default of Rs.92,45,80,781/- from Cash Credit, Term Loan, Funded Interest Term Loan (FITL), and Cash Credit Ad-Hoc facilities.
…Initial sanction of Cash Credit facility,…
Execution of Working Capital Consortium…
Sign in to view related legal provisions.