# In the matter of HARANCHANDRA COLD STORAGE PRIVATE LIMITED

> NCLT judgment dated 2025-10-30. Citation: TCN-2025-NCLT-01538. UCO Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against…

- **Court:** NCLT
- **Order date:** 30 Oct 2025
- **Citation:** TCN-2025-NCLT-01538
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/haranchandra-cold-storage-private-limited-719087bf

## Summary

### Background

UCO Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Haran Chandra Cold Storage Pvt. Ltd., claiming a default of Rs. 24,21,20,942.70/-. The date of default mentioned is 30.06.2019.

## Facts

UCO Bank filed a petition under Section 7 of the IBC against Haran Chandra Cold Storage Pvt. Ltd.

The claimed default amount is Rs. 24,21,20,942.70/-.

The date of default mentioned in the petition is 30.06.2019.

The Corporate Debtor's account was restructured on 26.11.2019.

The respondents argued that the petition was filed without proper authorization.

The respondents contended that the petition was barred under Section 10A of the IBC.

The NCLT admitted the application and initiated CIRP against the Corporate Debtor.

A moratorium was declared under Section 14 of the IBC.

Mr. Santanu Brahma was appointed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the petition is barred …

**Ratio:** The account was restructured at the request of the MSME Corporate Debtor on 26.11.2019.

…

**Reasoning:** The NCLT considered the RBI circular

…

**Interpretation:** The NCLT interpreted the RBI circular to mean that there cannot be two NPA

…

**Application:** The NCLT applied the RBI circular

…

## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** UCO B…
- **Respondents:** Haran Chandra…
- **Other parties:** Santanu B…
- **Advocates:** Shusna S…; R. N. G…; +5 more

## Timeline

- **2015-01-19 — Sanction…**: Sanction letter dated 19.01.2015 for…
- **2019-03-22 — Demand N…**: Bank's Demand Notice dated 22.03.2019,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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