# In the matter of ANUJ TEXTILES PVT LTD

> NCLT judgment dated 2025-12-02. Citation: TCN-2025-NCLT-01809. ICICI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 2 Dec 2025
- **Citation:** TCN-2025-NCLT-01809
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/anuj-textiles-pvt-ltd-05a4ccd1

## Summary

### Background

ICICI Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Anuj Textiles Private Limited.

## Facts

The Corporate Debtor availed a credit limit of Rs.297 million on December 23, 2015, which was subsequently enhanced and renewed.

The account was classified as NPA on November 30, 2018.

A SARFAESI notice issued in 2019 was withdrawn, and a fresh notice dated July 4, 2022, demanded Rs. 49.92 crore.

The Corporate Debtor challenged the proceedings before DRT-III, Kolkata and proposed a One Time Settlement (OTS) of Rs. 8.38 crore on July 11, 2021.

The Financial Creditor invoked Personal and Corporate Guarantees via multiple Guarantee Invocation letters dated September 26, 2019.

The Corporate Debtor issued representation/objection to the notice issued under Section 13(2) of SARFAESI Act on August 31, 2022.

…

## Issues and analysis

### Issue 1: Whether the present …

**Ratio:** The limitation period for applications under Section 7 of the I&B Code is three years

…

**Reasoning:** The OTS proposal dated 11.07.2021 and the entries in the balance sheet for FY 2022-23

…

**Interpretation:** A written acknowledgment of debt, including proposals for one-time settlement

…

**Application:** The OTS proposal and balance sheet entries acknowledge the debt, extending the

…

## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Respondents:** Anuj Textiles…
- **Other parties:** ICICI Bank…; Anup Kumar…; +8 more
- **Advocates:** Rishav Ba…; Prerna…; +2 more

## Timeline

- **2015-12-23 — Credit Limit…**: The Corporate Debtor availed a…
- **2017-03-21 — Credit Limit…**: The credit limit was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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