# In the matter of ABHINAV INTERNATIONAL PRIVATE LIMITED

> NCLT judgment dated 2025-11-20. Citation: TCN-2025-NCLT-01697. 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-01697
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/abhinav-international-private-limited-f71033d1

## 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, a Financial Creditor, filed a petition under Section 7 of the IBC against M/S. Abhinav International Private Limited, the Corporate Debtor.

The application was filed on 13.05.2024 based on the Corporate Debtor's default in payment of Rs. 189,18,63,774/- principal and total default of Rs. 379,16,21,684/-.

The Corporate Debtor acted as a Corporate Guarantor for loan facilities extended to the Principal Borrower, 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 against the Principal Borrower and Corporate Guarantors.

…

## 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

- **19.08.2013 — NPA Decla…**: Account of Principal…
- **17.10.2015 — SARFAESI…**: SARFAESI notice issued under Section 13(2) against Principal Borrower and Corporate…

## 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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