# Omkara Assets Reconstruction Private Limited vs. Ego Flooring Private Limited

> NCLT judgment dated 13 Oct 2025. Citation: TCN-2025-NCLT-01475. The case involves a petition filed by Omkara Assets Reconstruction Private Limited, the…

- **Court:** NCLT
- **Order date:** 13 Oct 2025
- **Citation:** TCN-2025-NCLT-01475
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/omkara-assets-reconstruction-private-limited-vs-ego-flooring-private-limited-6bbdb099

## Summary

### Background

The case involves a petition filed by Omkara Assets Reconstruction Private Limited, the Financial Creditor/Applicant, under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited, the Corporate Debtor/Respondent, due to a default of Rs.6,49,53,183.26/- as of 31st December 2023.

## Facts

Omkara Assets Reconstruction Private Limited filed the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Ego Flooring Private Limited.

The total default amount is stated to be Rs.6,49,53,183.26/- as on 31st December 2023, with the date of default as 31st January 2020.

Ego Flooring Private Limited had initially approached IndusInd Bank Limited for financial assistance.

IndusInd Bank Limited (IBL) sanctioned credit facilities to Ego Flooring Private Limited pursuant to a Sanction Letter dated 06th May 2016.

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## Issues and analysis

### Issue 1: Whether the petition is barred under Section 10A …

**Ratio:** Section 10A specifies suspension of CIRP for a period from 25th March 2020 till a period

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**Reasoning:** The date of default determined by the NCLT does not fall within the period specified in

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**Interpretation:** The RBI's COVID-19 circulars merely deferred NPA classification and do not

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**Application:** The NCLT found no merit in the contention of the applicant in relation to bar

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Omkara Assets…
- **Respondents:** Ego Flooring…
- **Other parties:** Insolvency and…; Corporate…; +4 more
- **Advocates:** Darshit…

## Timeline

- **2016-05-06 — Sanction…**: IndusInd Bank Limited (IBL) sanctioned credit…
- **2020-01-31 — Date of Default…**: Applicant claims the date of…

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