# The Bank of Baroda Limited vs. Alvi Tech Services Private Limited

> NCLT judgment dated 2026-07-20. Citation: TCN-2026-NCLT-00650. The Bank of Baroda Limited, a Financial Creditor, filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 20 Jul 2026
- **Citation:** TCN-2026-NCLT-00650
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/the-bank-of-baroda-limited-vs-alvi-tech-services-private-limited-s4yqv

## Summary

### Background

The Bank of Baroda Limited, a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate Corporate Insolvency Resolution Process (CIRP) against Alvi Tech Services Private Limited, the Corporate Debtor. The Financial Creditor claimed a default of Rs. 15,99,10,466.99/- as of 18.12.2025, with the date of default stated as 30.06.2018 and the account classified as NPA on 28.09.2018. The Corporate Debtor raised several defenses, including allegations of excess interest charges, wrongful appropriation of receivables, reduced drawing power by the Financial Creditor, and refusal to consider restructuring proposals. The Corporate Debtor also contended that the application was time-barred and highlighted its MSME status.

## Facts

The Bank of Baroda Ltd. (Financial Creditor) filed C.P. (IB) No. 201/MB/2026 on 24.02.2026 under Section 7 of the IBC against M/s Alvi Tech Services Private Limited (Corporate Debtor).

The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor.

The amount claimed to be in default is Rs. 15,99,10,466.99/- (inclusive of interest) as on 18.12.2025.

The date of default is stated as 30.06.2018, and the account was classified as Non-Performing Asset (NPA) on 28.09.2018.

The Financial Creditor issued a demand notice dated 27.06.2019 under Section 13(2) of the SARFAESI Act, 2002.

The Corporate Debtor executed a Letter of Acknowledgment of Debt dated 27.06.2019.

…

## Issues and analysis

### Issue 1: Whether the Financial Creditor has successfully established the existence of financial debt and …

**Ratio:** The Financial Creditor successfully established the existence of financial debt and

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**Reasoning:** The Financial Creditor provided sanction letters, loan and security documents, statements

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**Interpretation:** Section 5(8) of the IBC defines 'financial debt' and Section 3(12) defines

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**Application:** The documents on record, including certified statements of account, recall

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## Parties

- **Judges:** NILESH SHARMA,…; SAMEER KAKAR,…
- **Appellants:** The Bank of…; The Bank of…
- **Respondents:** Alvi Tech…
- **Other parties:** Krishnanand…; Rajkumari T…; +4 more
- **Advocates:** Manish…; Shweta P…; +3 more

## Timeline

- **2002-12-16 — Original Sanction of…**: The Financial Creditor originally…
- **2007-07-14 — Cash Credit Facility…**: The Cash Credit Facility bearing Account No. 27690500011031 was first availed by the…

## 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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