# In the matter of ABHINAV INTERNATIONAL PRIVATE LIMITED

> NCLT judgment dated 2025-11-20. Citation: TCN-2025-NCLT-01836. Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 20 Nov 2025
- **Citation:** TCN-2025-NCLT-01836
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/abhinav-international-private-limited-2ce87a77

## Summary

### Background

Central Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/S. Abhinav International Private Limited, based on a corporate guarantee.

## Facts

Central Bank of India filed a Section 7 application against M/S. Abhinav International Private Limited.

The application was filed on 13.05.2024.

The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- plus interest, totaling Rs. 379,16,21,684/-.

M/S. Abhinav International Private Limited is a Corporate Guarantor for the loan facilities extended to M/s. Hanung Toys & Textile Limited.

The account of the Principal Borrower was classified as NPA on 19.08.2013.

A SARFAESI notice under Section 13(2) was issued on 17.10.2015.

The CIRP of the Principal Borrower commenced on 28.03.2019.

The Resolution Professional published the list of creditors of the Principal Borrower on 31.03.2019, 15.10.2022, and 28.02.2024, including Central Bank of India.

…

## Issues and analysis

### Issue 1: Whether the admission of a claim by the RP in an earlier CIRP would amount to an acknowledgement of …

**Ratio:** Where an IRP or a RP has admitted a claim, it does constitute an acknowledgement under

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**Reasoning:** If the entire management of the CD is vested with the IRP or the RP, as the case may be,

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**Interpretation:** The admission of a claim by the RP in an earlier CIRP constitutes a valid

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**Application:** The Resolution Professional admitted the claim of Financial Creditor and

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Central Bank of…
- **Respondents:** M/S. Abhinav…
- **Other parties:** Vimal K…; BRS Ventures…; +5 more
- **Advocates:** B.K. Mi…; Ambuj M…; +1 more

## Timeline

- **2024-05-13 — Application…**: The present application was filed on…
- **2025-11-20 — Order Del…**: Order Delivered on:…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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