# In the matter of G V Annai Hospital LLP

> NCLT judgment dated 2025-04-15. Citation: TCN-2025-NCLT-00213. The Karur Vysya Bank Ltd filed a petition under Section 7 of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 15 Apr 2025
- **Citation:** TCN-2025-NCLT-00213
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/g-v-annai-hospital-llp-c7ba844b

## Summary

### Background

The Karur Vysya Bank Ltd filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s G V Annai Hospital LLP. The Tribunal had previously ordered the Petitioner to serve the petition on the Respondent and file an Affidavit of Service. The petition was delivered to the Corporate Debtor by Speed Post on 06.03.2025. Despite service, the Respondent did not appear when the matter was listed for hearing. The Respondent had taken notice prior to filing.

## Facts

The Karur Vysya Bank Ltd filed a petition under Section 7 of the IBC to initiate CIRP against M/s G V Annai Hospital LLP, the Corporate Debtor. The Tribunal ordered the Petitioner to serve the petition on the Respondent. The petition was delivered to the Corporate Debtor by Speed Post on 06.03.2025. The Respondent failed to appear for the hearing despite being served. The Corporate Debtor was incorporated on 11.09.2014. They had approached the Applicant for Secured Over Draft (SOD) and Term Loan Building (TLB) and Hypothecation of Machinery Loan (HPMA) facilities to the tune of Rs. 6.0 Crores, which was sanctioned on 01.03.2016. The Corporate Debtor failed to discharge the liability. An agreement of guarantee was executed by Personal Guarantors on 01.06.2016, and a

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC should be admitted despite the discrepancy in …

**Ratio:** The Hon'ble Supreme Court in Innoventive Industries Limited -Vs- ICICI Bank &Anr.,

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**Reasoning:** The Tribunal acknowledged that the NeSL certificate produced by the Applicant pertained

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**Interpretation:** The court interpreted the requirement of a NeSL certificate in the context of

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**Application:** Despite the incorrect NeSL certificate, the Tribunal relied on other documents

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## Parties

- **Judges:** Ramalingam…; Shri. Venkataraman…
- **Appellants:** The Karur Vysya…
- **Respondents:** M/s G V Annai…

## Timeline

- **2014-09-11 — Incorporation of…**: The Respondent/Corporate…
- **2016-03-01 — Loan Sanc…**: The loan was sanctioned…

## 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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