# In the matter of BGR ENERGY SYSTEMS LIMITED

> NCLT judgment dated 2026-04-17. Citation: TCN-2026-NCLT-00405. The case pertains to an application filed by Canara Bank under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 17 Apr 2026
- **Citation:** TCN-2026-NCLT-00405
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/bgr-energy-systems-limited-34c85b1a

## Summary

### Background

The case pertains to an application filed by Canara Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against BGR Energy Systems Limited due to a default amount of Rs. 584,67,81,149/- as of 31.08.2024. National Asset Reconstruction Company Limited (NARCL) was later substituted as the Financial Creditor in place of Canara Bank.

## Facts

Canara Bank initially filed a petition under Section 7 of the IBC against BGR Energy Systems Limited.

The default amount claimed was Rs. 584,67,81,149/- as of 31.08.2024.

NARCL was substituted as the Financial Creditor in place of Canara Bank via IA 366/2025.

The Corporate Debtor's accounts were classified as NPA with effect from 30.06.2022.

The Corporate Debtor challenged the NPA classification before the High Court of Andhra Pradesh.

The Financial Creditor submitted a Record of Default (RoD) issued by NeSL.

The Financial Creditor also submitted a certificate under Section 2(A) of the Bankers' Books of Evidence Act, 1891.

Mr. Dommeti Surya Rama Krishna Saibaba was proposed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the Petition has been …

**Ratio:** The date of default is mentioned as 30.06.2022 and the present Petition has been e-filed

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**Reasoning:** The Adjudicating Authority considered the dates of default and filing and concluded that

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**Interpretation:** The limitation period is

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**Application:** The petition was deemed to be filed within the limitation period based on the

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## Parties

- **Judges:** UMESH KUMAR…; KISHORE VEMULAPALL…
- **Appellants:** National Asset…
- **Respondents:** BGR Energy…
- **Other parties:** Amara…; Canara…; +1 more
- **Advocates:** Fatema Kac…; SVS Cho…

## Timeline

- **07.11.2024 — Initial F…**: The instant Petition CP…
- **29.09.2025 — Joint Assignment…**: Joint Assignment Agreement dated 29.09.2025 entered into between the Consortium of Banks…

## 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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