# In the matter of SHREE UTTAM FOOD PRODUCTS (INDIA) PRIVATE LIMITED

> NCLT judgment dated 2025-12-05. Citation: TCN-2025-NCLT-01794. Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 5 Dec 2025
- **Citation:** TCN-2025-NCLT-01794
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/shree-uttam-food-products-india-private-limited-1831bc3a

## Summary

### Background

Punjab National Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Shree Uttam Food Products Private Limited, citing a default of Rs. 23,91,36,802/- as of January 31, 2024, with the date of default being January 4, 2020.

## Facts

Punjab National Bank filed a Section 7 IBC petition against M/s Shree Uttam Food Products Private Limited.

The claimed default amount was Rs. 23,91,36,802/- as of January 31, 2024, with the date of default being January 4, 2020.

The respondent argued the application was time-barred and questioned the validity of the General Power of Attorney.

The applicant argued the application was within the limitation period due to the Supreme Court's COVID-19 extension.

The applicant nominated Mr. Kuldeep Tank as the Interim Resolution Professional (IRP).

The Corporate Debtor is engaged in the operation of integrated cold chain facilities cum fruits and vegetables processing unit.

…

## Issues and analysis

### Issue 1: Whether the present application is within the Limitation period to initiate the CIRP against the …

**Ratio:** The Hon'ble Supreme Court, in its Suo Moto Writ Petition (C) No. 3 of 2020, extended the

…

**Reasoning:** The date of default is 04.01.2020 and the application under section 7 was filed on

…

**Interpretation:** The application is within the limitation period considering the Supreme Court's

…

**Application:** The application is not

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Punjab National…
- **Respondents:** M/s Shree Uttam…; M/s Shree Uttam…
- **Other parties:** Kuldeep…
- **Advocates:** Shraddha Ch…; Himani Ch…; +3 more

## Timeline

- **2020-01-04 — Date of D…**: The account of the Corporate…
- **2020-01-07 — Notice under SARFAESI…**: The Applicant issued notice under section…

## 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)

---

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-indore/shree-uttam-food-products-india-private-limited-1831bc3a