# In the matter of QUADRANT TELEVENTURES LIMITED

> NCLT judgment dated 2025-09-02. Citation: TCN-2025-NCLT-01334. IDBI Trusteeship Services Limited, representing financial creditors, filed a petition under…

- **Court:** NCLT
- **Order date:** 2 Sept 2025
- **Citation:** TCN-2025-NCLT-01334
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/quadrant-televentures-limited-e883ef87

## Summary

### Background

IDBI Trusteeship Services Limited, representing financial creditors, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Quadrant Televentures Ltd.

## Facts

The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The petitioner, IDBI Trusteeship Services Limited, represents financial creditors including IDBI, Kotak Mahindra Bank, State Bank of India, and Punjab National Bank.

The total amount of default is Rs. 364,86,48,419.11 as of 26.03.2024, with the date of default stated as 01.08.2017.

A Security Trustee and Agency Agreement was entered into on 04.09.2005 amongst HFCL Infotel Limited and the lenders.

The Corporate Debtor acknowledged its debts in its Annual Report for the financial year 2022-2023.

The Corporate Debtor had acknowledged its debt vide its reply dated 23.12.2019 to the demand notice dated 20.12.2019 sent by the Petitioner.

…

## Issues and analysis

### Issue 1: Whether the petition is …

**Ratio:** The petition is not barred by limitation due to acknowledgments of debt by the Corporate

…

**Reasoning:** The Corporate Debtor acknowledged its debt on 23.12.2019 and 26.05.2023. The period from

…

**Interpretation:** Acknowledgment of debt extends the limitation period. Court orders can exclude

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**Application:** The Adjudicating Authority considered the acknowledgments of debt and the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** IDBI Trusteeship…
- **Respondents:** Quadrant Televentu…
- **Other parties:** Industrial…; Kotak Mahindra…; +11 more
- **Advocates:** Shreedhar…; Rishabh K…; +1 more

## Timeline

- **2005-09-04 — Security Trustee and…**: A Security Trustee and Agency Agreement was entered into amongst HFCL Infotel Limited and…
- **2017-08-01 — Date of D…**: The date of default is…

## 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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