# In the matter of PRIDE COKE PRIVATE LIMITED

> Read the full IBC case summary for In the matter of PRIDE COKE PRIVATE LIMITED. NCLT judgment dated 2025-08-05. Citation: TCN-2025-NCLT-01190.

- **Court:** NCLT
- **Order date:** 5 Aug 2025
- **Citation:** TCN-2025-NCLT-01190
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pride-coke-private-limited-55fb9d44

## Summary

### Background

The application was filed by Punjab National Bank (Financial Creditor) under Section 7 of the IBC to initiate Corporate Insolvency Resolution Process (CIRP) against Pride Coke Private Limited (Corporate Debtor) for an unresolved financial debt. The Corporate Debtor raised preliminary objections regarding maintainability, limitation, and non-compliance with MSME revival frameworks.

## Facts

Punjab National Bank, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Pride Coke Private Limited, the Corporate Debtor. The application was filed for an unresolved financial debt amounting to Rs. 42,02,42,577.55. The Corporate Debtor is a Public Limited Company incorporated on February 2, 2009, under the Companies Act, 1956, with its registered office in Guwahati, Assam.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section…

**Ratio:** Valid acknowledgments of debt, such as balance confirmation letters and audited balance…

**Reasoning:** The Tribunal found that the Balance Confirmation Letters dated August 1, 2019, coupled…

**Interpretation:** The court interpreted Section 18 of the Limitation Act to mean that statutory…

**Application:** The Balance Confirmation Letters dated August 1, 2019, and audited Balance…

## Parties

- **Judges:** Rammurti Ku…; Yogendra Kumar…
- **Advocates:** For Petit…; S. Dutta (Adv.).…; +2 more

## Timeline

- **February 2, 2009 — Incorporation of…**: Pride Coke Private Limited was incorporated as a Public Limited Company under the…
- **September 14, 2010 — Initial Sancti…**: Financial Creditor sanctioned various facilities aggregating to ₹1833.47 lakhs to the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/pride-coke-private-limited-55fb9d44