# Shiv Om Sharma & Ors. vs. Amar Jyoti Universe Nidhi Limited

> NCLT judgment dated 2026-07-23. Citation: TCN-2026-NCLT-00788. Fifty-eight individuals (Applicants/Financial Creditors) filed an application under Section 7…

- **Court:** NCLT
- **Order date:** 23 Jul 2026
- **Citation:** TCN-2026-NCLT-00788
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/shiv-om-sharma-ors-vs-amar-jyoti-universe-nidhi-limited-jaiz7

## Summary

### Background

Fifty-eight individuals (Applicants/Financial Creditors) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Amar Jyoti Universe Nidhi Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The application was based on the Corporate Debtor's failure to repay matured deposits, which the Applicants had invested over a period, and for which deposit confirmation certificates were issued. The total amount in default was Rs. 1,25,91,300/-.

## Facts

An application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by 58 individuals.

The Applicants are identified as Financial Creditors, and M/s Amar Jyoti Universe Nidhi Limited is the Corporate Debtor.

The Corporate Debtor was incorporated on 01.12.2016, with its registered office at Jalandhari Sarai, Budaun U.P. 243601.

The Applicants initially proposed Mr. Kanahiya Lal Goyal as the Interim Resolution Professional (IRP).

The total amount in default is Rs. 1,25,91,300/-.

The dates of default range from 16.09.2024 to 05.05.2025, and the default is continuing.

Applicants individually invested various amounts with the Corporate Debtor between 02.04.2022 and 16.09.2022.

…

## Issues and analysis

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

**Ratio:** An application under Section 7 of the IBC is considered to be within the prescribed

…

**Reasoning:** The deposits matured on various dates, with the dates of default ranging from 16.09.2024

…

**Interpretation:** The NCLT interpreted the limitation period to commence from the date of

…

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

…

## Parties

- **Judges:** Sh. Praveen…; Sh. Ashish…
- **Appellants:** SHIV OM S…; NETRA…; +50 more
- **Respondents:** Amar Jyoti…
- **Other parties:** Managing Director…; Kanahiya La…; +1 more
- **Advocates:** Sh. Saurab…; Sh. Shubh…

## Timeline

- **2016-12-01 — Corporate Debtor…**: M/s Amar Jyoti Universe Nidhi…
- **2022-04-02 — Investment Per…**: Applicants began investing various…

## 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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