# In the matter of Xenitis Infotech Limited

> NCLT judgment dated 2025-06-26. Citation: TCN-2025-NCLT-00869. UCO Bank, the Financial Creditor/Applicant, filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 26 Jun 2025
- **Citation:** TCN-2025-NCLT-00869
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/xenitis-infotech-limited-a13a8a7b

## Summary

### Background

UCO Bank, the Financial Creditor/Applicant, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, for initiation of corporate insolvency resolution process against Xenitis Infotech Limited, the Corporate Debtor/Respondent.

## Facts

UCO Bank filed an application under Section 7 of the IBC against Xenitis Infotech Limited.

The Corporate Debtor (CD) allegedly availed various credit facilities from a consortium bank, amounting to Rs. 428.52 Crores.

The CD defaulted in repayment, leading the consortium bank to issue a demand notice and initiate proceedings under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

The Adjudicating Authority initially dismissed the CP on March 19, 2020, due to the bar of limitation.

The NCLAT set aside the Adjudicating Authority's order, and the Supreme Court modified the NCLAT's order.

The letter dated October 25, 2019, was not produced by the respondent before the NCLT but was introduced in the appeal before the NCLAT.

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## Issues and analysis

### Issue 1: Whether the original petition under section 7 of …

**Ratio:** The petition was filed beyond the limitation

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**Reasoning:** The account was declared NPA on 06.03.2010, and the last acknowledgement of debt was on

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**Interpretation:** The petition was not maintainable

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**Application:** The Adjudicating Authority held that the CP was hit by the bar of limitation as

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## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** UCO B…
- **Respondents:** Xenitis Infotech…
- **Advocates:** Jishnu Cho…; Orijit Chat…; +5 more

## Timeline

- **2003-07-24 — Initial Sa…**: Date of Initial…
- **2008-07-05 — Final San…**: Date of Final…

## 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)

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