# In the matter of DHROVV INDIA LIMITED

> NCLT judgment dated 2025-11-19. Citation: TCN-2025-NCLT-01846. The case involves an application filed by Dhull Trading Private Limited (Financial Creditor)…

- **Court:** NCLT
- **Order date:** 19 Nov 2025
- **Citation:** TCN-2025-NCLT-01846
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/dhrovv-india-limited-aadff679

## Summary

### Background

The case involves an application filed by Dhull Trading Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Dhrovv India Limited (Corporate Debtor).

## Facts

Dhull Trading Private Limited filed an application under Section 7 of the IBC to initiate CIRP against Dhrovv India Limited.

The application was filed on 09.05.2025.

The Financial Creditor claimed a total financial debt of Rs. 3,26,51,982/- (including principal and interest).

The date of default was 01.10.2023.

A Memorandum of Understanding (MOU) was executed between the Financial Creditor and the Corporate Debtor on 14.01.2023.

The Corporate Debtor admitted the debt and default but sought an extension of time for repayment.

The Adjudicating Authority found that the application was filed within the period of limitation.

The Adjudicating Authority found that there was a debt and default within the meaning of the I&B Code, 2016.

…

## Issues and analysis

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

**Ratio:** The application was filed within the prescribed period of limitation of three years under

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**Reasoning:** The cause of action arose on 01.10.2023, and the application was instituted on

…

**Interpretation:** The Adjudicating Authority interpreted the relevant provisions of the

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**Application:** The Adjudicating Authority applied the provisions of the Limitation Act, 1963,

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Dhull Trading…
- **Respondents:** Dhrovv India…
- **Other parties:** Madan Lal A…
- **Advocates:** Gunjan Ja…; Shashank…

## Timeline

- **2023-01-04 — Board Reso…**: Financial Creditor vide Board Resolution dated 04.01.2023, agreed to lend loan amount…
- **2023-01-14 — MOU Exec…**: Financial Creditor and the Corporate Debtor executed Memorandum of Understanding ("MOU"…

## 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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