# In the matter of VIBRANT CONTENT PRIVATE LIMITED

> NCLT judgment dated 2025-10-30. Citation: TCN-2025-NCLT-01537. The case involves a petition filed by Central Bank of India Limited, the Financial Creditor,…

- **Court:** NCLT
- **Order date:** 30 Oct 2025
- **Citation:** TCN-2025-NCLT-01537
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/vibrant-content-private-limited-2be3cafb

## Summary

### Background

The case involves a petition filed by Central Bank of India Limited, the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Vibrant Content Private Limited, the Corporate Debtor, due to a default in repayment of a debt amounting to Rs. 19,60,48,155/-.

## Facts

Central Bank of India Limited filed a petition on 06.08.2024 to initiate CIRP against Vibrant Content Private Limited.

The Corporate Debtor defaulted on a principal debt of Rs. 19,60,48,155/-.

The date of default is stated as 29.08.2018.

The Financial Creditor sanctioned three term loan facilities to the Corporate Debtor, aggregating to Rs. 47.00 Crores.

The Corporate Debtor's account was declared as NPA on 29.08.2018.

The Financial Creditor issued a Demand Notice dated 14.07.2020 to the Corporate Debtor.

The Corporate Debtor acknowledged the debt in its audited Balance Sheet for the Financial Years 2018-2019, 2019-2020 and financial statement for the year ended 31.03.2023.

…

## Issues and analysis

### Issue 1: Whether the petition filed by the Financial …

**Ratio:** The limitation period is extended by the acknowledgment of debt in the Corporate Debtor's

…

**Reasoning:** The Tribunal considered the Corporate Debtor's audited balance sheets, which explicitly

…

**Interpretation:** The acknowledgment of debt in the financial statements renews the limitation

…

**Application:** The Tribunal applied these principles to the facts of the case and concluded

…

## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Central Bank of…
- **Respondents:** Vibrant Content…
- **Other parties:** Rakesh Kumar…
- **Advocates:** Mily Gh…; Aditya Shivswaroop…; +1 more

## Timeline

- **2018-08-29 — Date of D…**: The account of the Corporate…
- **2020-07-14 — Demand N…**: The Financial Creditor issued a…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/vibrant-content-private-limited-2be3cafb