The case involves a Company Petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Savannah Lifestyle Private Limited against Shaila Clubs and Resorts Private Limited, alleging default in payment of a financial debt. The Corporate Debtor was incorporated in 2005. The Financial Creditor claims that the Corporate Debtor failed to pay an outstanding financial debt of Rs. 9,16,43,081/-. The Corporate Debtor had availed a loan from Vasantdada Shetkari Sahakari Bank, which was later assigned to the Financial Creditor. The Corporate Debtor raised the issue of limitation, arguing that the petition was filed after the limitation period. The Corporate Debtor also argued that there was no outstanding financial debt owed to the Financial Creditor and that

The case involves a Company Petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Savannah Lifestyle Private Limited against Shaila Clubs and Resorts Private Limited, alleging default in payment of a financial debt. The Corporate Debtor was incorporated in 2005. The Financial Creditor claims that the Corporate Debtor failed to pay an outstanding financial debt of Rs. 9,16,43,081/-. The Corporate Debtor had availed a loan from Vasantdada Shetkari Sahakari Bank, which was later assigned to the Financial Creditor. The Corporate Debtor raised the issue of limitation, arguing that the petition was filed after the limitation period. The Corporate Debtor also argued that there was no outstanding financial debt owed to the Financial Creditor and that