# In the matter of Omkara Asset Reconstruction Pvt. Ltd. vs. Shailendra Tewari

> NCLT judgment dated 2025-10-07. Citation: TCN-2025-NCLT-01542. The case involves a petition filed by Omkara Assets Reconstruction Pvt. Ltd. against Shailendra…

- **Court:** NCLT
- **Order date:** 7 Oct 2025
- **Citation:** TCN-2025-NCLT-01542
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/omkara-asset-reconstruction-pvt-ltd-vs-shailendra-tewari-457d1842

## Summary

### Background

The case involves a petition filed by Omkara Assets Reconstruction Pvt. Ltd. against Shailendra Tewari, the respondent and personal guarantor, under Section 95 of the IBC, 2016. The petitioner claims default based on various deeds of guarantee and a demand notice.

## Facts

The petitioner, Omkara Assets Reconstruction Pvt. Ltd., filed a petition against the respondent, Shailendra Tewari, under Section 95 of the IBC, 2016.

The petition is based on various deeds of guarantee dated 01.12.1994, 01.01.1996, 15.04.1997 & 01.01.1998.

The counsel for the petitioner stated that the date of default is 31.12.2001 and the demand notice was sent on 14.07.2021.

The counsel stated that the demand notice was sent within a period of 12 years from the date of Recovery Certificate, which is 07.05.2012.

The petition was filed on 16.07.2023.

Form C annexed with the petition states that the date of default is 22.09.2012 (after serving demand notice dated 13.08.2012).

The court noted that the date of default stated in Form C is prior to the demand notice.

## Issues and analysis

### Issue 1: Whether the petition is within the limitation period considering the date of default and the date …

**Ratio:** The petition is not within the limitation period due to inconsistencies in the dates of

…

**Reasoning:** The court observed that the date of default mentioned in Form C is prior to the demand

…

**Interpretation:** The court interpreted the limitation period based on the dates provided in the

…

**Application:** The court applied the principle of limitation to the facts of the case,

…

## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Omkara Assets…
- **Respondents:** Ace Laboratories…; Shailendra…
- **Advocates:** Lalit Kishore…; Arvind…; +2 more

## Timeline

- **01.12.1994 — Deed of Gua…**: One of the deeds of…
- **01.01.1996 — Deed of Gua…**: One of the deeds of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95 — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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