# Anju Maurya & Ors. vs. Koras Pin Savings Financial Services Nidhi Limited

> NCLT judgment dated 2026-09-01. Citation: TCN-2026-NCLT-00929. An application was filed on 09.02.2024 under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 1 Sept 2026
- **Citation:** TCN-2026-NCLT-00929
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/anju-maurya-ors-vs-koras-pin-savings-financial-services-nidhi-limited-amwuz

## Summary

### Background

An application was filed on 09.02.2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016, by 34 individuals (Applicants/Financial Creditors) seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Koras Pin Savings Financial Services Nidhi Limited (Corporate Debtor). The total debt in default is Rs. 1,04,17,337/-, with default dates ranging from 14.11.2021 to 20.12.2023. The Corporate Debtor was incorporated on 11.01.2017. The Financial Creditors had invested various amounts with the Corporate Debtor between 14.11.2020 and 20.12.2022, for which Deposit Confirmation Certificates were issued. Upon maturity, the Corporate Debtor failed to repay the amounts, leading the Financial Creditors to issue demand notices between 06.12.2023 and

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## Facts

An application was filed on 09.02.2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The application was jointly filed by 34 individuals (Applicants/Financial Creditors).

The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against Koras Pin Savings Financial Services Nidhi Limited (Corporate Debtor).

The total amount of debt in default is Rs. 1,04,17,337/-.

The dates of default range from 14.11.2021 to 20.12.2023.

The Corporate Debtor was incorporated on 11.01.2017.

The registered office of the Corporate Debtor is at Bareilly, Uttar Pradesh.

Applicants initially proposed Mr. Kanahiya Lal Goyal as Interim Resolution Professional (IRP), but he did not hold a valid Authorisation for Assignment (AFA).

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## Issues and analysis

### Issue 1: Whether the application filed by the …

**Ratio:** An application under Section 7 of the IBC is not barred by limitation if it is filed

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**Reasoning:** The application was filed on 09.02.2024. The dates of default, corresponding to the

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**Interpretation:** The limitation period for a Section 7 application commences from the date of

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**Application:** The NCLT rejected the Corporate Debtor's objection regarding limitation,

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Anju Ma…; Girish M…; +32 more
- **Respondents:** Koras Pin Savings…
- **Other parties:** Ankit M…; Kanahiya La…
- **Advocates:** Sh. Ujjawal…; Sh. Saurab…

## Timeline

- **2020-11-14 — Start of Investment…**: Financial Creditors individually invested various amounts with the Corporate Debtor, with…
- **2021-11-14 — Start of Default Dates…**: The dates of default, corresponding to the maturity dates of the deposits, began ranging…

## 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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