# In the matter of C-NET INFOTECH PRIVATE LIMITED

> NCLT judgment dated 2025-09-11. Citation: TCN-2025-NCLT-01353. Bank of Baroda filed an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 11 Sept 2025
- **Citation:** TCN-2025-NCLT-01353
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/c-net-infotech-private-limited-dfe52033

## Summary

### Background

Bank of Baroda filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against C-NET INFOTECH PVT. LTD., the corporate guarantor of C-Net Digital Pvt. Ltd.

## Facts

Bank of Baroda filed an application under Section 7 of the IBC against C-NET INFOTECH PVT. LTD.

C-NET INFOTECH PVT. LTD. is the corporate guarantor for C-Net Digital Pvt. Ltd.

The Financial Creditor had sanctioned various credit facilities to C-Net Digital Pvt. Ltd. aggregating ₹1,10,36,000.

The total outstanding amount as on 19.02.2024 stood at ₹1,37,71,961.

The loan account was classified as a Non-Performing Asset on 27.11.2020.

The Respondent filed a reply raising objections, including limitation and protection under Section 10A of the IBC.

The Applicant moved IA No. 74 (MP)/2025 seeking amendment of the petition with respect to the date of default.

The Tribunal allowed the amendment application.

The Respondent preferred a Review Application, which was dismissed.

…

## Issues and analysis

### Issue 1: Whether the application filed by the Financial …

**Ratio:** The application is maintainable as the twin

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**Reasoning:** The guarantor has not disputed the disbursement, and the record of default with the NeSL

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**Interpretation:** The requirements for admission of the petition are met under Section 7 of the

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**Application:** The present application is accordingly admitted under section 7 of the IBC,

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## Parties

- **Judges:** Mohan P.…; SANJEEV S…
- **Respondents:** C-NET INFOTECH…; Bank of B…
- **Other parties:** Teena Saraswat…
- **Advocates:** Abhishek…; Gulafsha K…; +3 more

## Timeline

- **2017-07-27 — Sanction…**: Vijaya Bank sanctioned first secured term loan of Rs 19,45,000 to C-Net Digital Private…
- **2020-11-27 — NPA Decla…**: Loan account classified as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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