# In the matter of ERA INFRASTRUCTURE (INDIA) LIMITED

> NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01575. National Asset Reconstruction Company Limited (NARCL), acting as a trustee, filed an…

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01575
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/era-infrastructure-india-limited-facc5078

## Summary

### Background

National Asset Reconstruction Company Limited (NARCL), acting as a trustee, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Era Infrastructure (India) Ltd. due to default in repayment of financial debt.

## Facts

National Asset Reconstruction Company Limited (NARCL) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Era Infrastructure (India) Ltd.

The application was filed due to a default in repayment of financial debt amounting to Rs. 385,38,41,870/-.

The debt comprised a principal amount of Rs. 143,75,79,510 and interest of Rs. 241,62,62,360.

Era Infrastructure (India) Ltd. is the Corporate Debtor with CIN: U45200DL2007PLC169191.

The Corporate Debtor acted as a Corporate Guarantor for Haridwar Highways Project Limited.

The financial debt was originally extended by Bank of India (BOI) and later assigned to NARCL.

The Corporate Debtor executed a Corporate Guarantee dated 29.06.2016 in favor of Bank of India.

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## Issues and analysis

### Issue 1: Whether the application …

**Ratio:** The Limitation Act, 1963, applies to proceedings under the Code, 2016. The time period

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**Reasoning:** The Corporate Debtor argued that the application was barred by limitation as the

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**Interpretation:** The Hon'ble Supreme Court has held that if there is an acknowledgment of debt

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**Application:** The Adjudicating Authority found that the Corporate Debtor acknowledged its

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** National Asset…
- **Respondents:** Era Infrastructure…
- **Other parties:** Bank of…; Axis Bank L…; +7 more
- **Advocates:** P. Na…; Abhishek…; +8 more

## Timeline

- **2025-11-04 — Order Del…**: Order delivered admitting the…
- **2016 — Corporate Gu…**: Corporate Guarantee dated 29.06.2016 was executed by the Corporate Debtor in favour of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(7) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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