# In the matter of AMYRA FOODS PRIVATE LIMITED

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01590. Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01590
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amyra-foods-private-limited-52f2fa2b

## Summary

### Background

Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Amyra Foods Private Limited due to a default amount of Rs. 35,19,53,795 as of 22.02.2021, with the date of default being 31.03.2018.

## Facts

Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Amyra Foods Private Limited.

The default amount was Rs. 35,19,53,795 as of 22.02.2021, with the date of default being 31.03.2018.

Amyra Foods Private Limited is engaged in the business of various kinds of food grains.

Amyra Foods Private Limited approached Punjab National Bank in 2016 seeking various credit facilities.

The account of Amyra Foods Private Limited was classified as NPA on 31.03.2018.

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## Issues and analysis

### Issue 1: Whether the present Application is …

**Ratio:** The Hon'ble Supreme Court of India has extended the limitation period during the COVID-19

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**Reasoning:** The date of default is 31.03.2018, and the application was filed on 03.04.2021.

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**Interpretation:** The extension of the limitation period by the Supreme Court due to the COVID-19

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**Application:** The application is deemed to be filed within the limitation period due to the

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Punjab National…
- **Respondents:** Amyra Foods…
- **Other parties:** Naveen S…
- **Advocates:** Arpit Singh…; Rakshit…

## Timeline

- **2021-04-03 — Application…**: Punjab National Bank filed the…
- **2025-11-07 — Order Del…**: Order delivered on…

## 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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