# In the matter of HANUNG FURNISHINGS PRIVATE LIMITED

> NCLT judgment dated 2025-11-20. Citation: TCN-2025-NCLT-01695. The case involves a petition filed by Central Bank of India, a Financial Creditor, under…

- **Court:** NCLT
- **Order date:** 20 Nov 2025
- **Citation:** TCN-2025-NCLT-01695
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/hanung-furnishings-private-limited-d5858aff

## Summary

### Background

The case involves a petition filed by Central Bank of India, a Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Hanung Furnishing Private Limited, the Corporate Debtor.

## Facts

Central Bank of India filed a petition under Section 7 of the IBC to initiate CIRP against M/s. Hanung Furnishing Private Limited.

The Corporate Debtor defaulted on a principal amount of Rs. 189,18,63,774/- and including interest the total amount of default is Rs. 379,16,21,684/-.

Central Bank of India is a financial institution constituted under The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.

M/s. Hanung Furnishing Private Limited is a Corporate Guarantor for 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 Section 13(2) SARFAESI Act notice was issued on 17.10.2015 against the Principal Borrower and Corporate Guarantors.

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## Issues and analysis

### Issue 1: Whether the admission of a claim by the Resolution Professional in the CIRP proceeding against the …

**Ratio:** The Hon'ble NCLAT has held that admission of a claim by the RP in an earlier CIRP would

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**Reasoning:** The NCLAT observed that when the management of the CD is vested with the IRP or the RP,

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**Interpretation:** The admission of a claim by the RP constitutes an acknowledgement of debt under

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**Application:** In this case, the Resolution Professional admitted the claim of the Financial

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Central Bank of…
- **Respondents:** M/S. HANUNG…
- **Other parties:** Vimal K…; M/s. Hanung Toys…
- **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 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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