# In the matter of UCO Bank vs. Poddar Mech Tech Service Pvt. Ltd. & Ors.

> NCLAT judgment dated 2025-12-23. Citation: TCN-2025-NCLAT-00625. UCO Bank filed appeals against orders passed by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 23 Dec 2025
- **Citation:** TCN-2025-NCLAT-00625
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/uco-bank-vs-poddar-mech-tech-service-pvt-ltd-ors-3639dd43

## Summary

### Background

UCO Bank filed appeals against orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dismissing their applications under Section 7 of the IBC against corporate guarantors of Ankit Metal & Power Ltd.

## Facts

UCO Bank (Financial Creditor) filed applications under Section 7 of the IBC against the Corporate Guarantors of Ankit Metal & Power Ltd. for initiation of Insolvency Process.

The Adjudicating Authority dismissed the applications filed by UCO Bank on the grounds of limitation.

Ankit Metal and Power Ltd. (Principal Borrower) had entered into an agreement with UCO Bank for working capital facilities.

The account of the Principal Borrower was classified as NPA on 28.08.2014.

The Principal Borrower executed a letter of revival on 11.08.2017 and acknowledged its debt towards the consortium lenders.

The Principal Borrower was admitted into CIRP vide order dated 20.12.2023.

…

## Issues and analysis

### Issue 1: Whether the acknowledgments of debt by the principal borrower extend the period of limitation for …

**Ratio:** Yes, an acknowledgment made by the principal borrower is deemed to be an acknowledgment

…

**Reasoning:** The Hon'ble Supreme Court in Asset Reconstruction Co. (India) Ltd. vs. Bishal Jaiswal,

…

**Interpretation:** The acknowledgment of debt by the principal borrower in its financial

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**Application:** Since the principal borrower acknowledged the debt in its financial statements

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## Parties

- **Judges:** Mohd. Faiz Alam…; Arun Ba…
- **Appellants:** UCO B…
- **Respondents:** Ankit Metal &…; M/S PODDAR MECH…; +1 more
- **Advocates:** Sarfaraz…

## Timeline

- **16.07.2024 — Order by Adjudicating…**: Orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata…
- **25.09.2014 — Master Restructuring…**: Master Restructuring Agreement (MRA) was executed between the Principal Borrower and all…

## 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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