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

> NCLT judgment dated 2026-07-20. Citation: TCN-2026-NCLT-00647. The Bank of Baroda Ltd. (Financial Creditor) filed an application under Section 7 of the IBC,…

- **Court:** NCLT
- **Order date:** 20 Jul 2026
- **Citation:** TCN-2026-NCLT-00647
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/the-bank-of-baroda-limited-vs-alvi-tech-services-private-limited-tt13z

## Summary

### Background

The Bank of Baroda Ltd. (Financial Creditor) filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Alvi Tech Services Private Limited (Corporate Debtor) due to a default of Rs. 15,99,10,466.99. The Corporate Debtor, an MSME, disputed the claim, alleging the Financial Creditor charged excess interest, wrongly appropriated funds, reduced drawing power, and refused restructuring proposals, leading to financial difficulties. The Corporate Debtor also contended the application was time-barred.

## Facts

C.P. (IB) No. 201/MB/2026 was filed on 24.02.2026 by Bank of Baroda Ltd. (Financial Creditor) under Section 7 of the IBC, 2016.

The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Alvi Tech Services Private Limited (Corporate Debtor).

The application was affirmed by Mr. Vijay Jain, authorized signatory of the Applicant.

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 date of NPA is stated as 28.09.2018.

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## Issues and analysis

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

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

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**Reasoning:** The record shows that the Financial Creditor sanctioned and disbursed various credit

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**Interpretation:** Section 5(8) of the IBC defines financial debt, and the evidence presented,

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**Application:** The Tribunal found that the transaction involved money borrowed against

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** The Bank of…
- **Respondents:** Alvi Tech…
- **Other parties:** Committee of…; Neha Jain…
- **Advocates:** Manish…; Shweta P…; +3 more

## Timeline

- **2002-12-16 — Original Sanction of…**: The original sanction of credit facilities…
- **2005-09-22 — Facilities Renewed/Enhan…**: Credit facilities were subsequently…

## 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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