# In the matter of SANYA HOSPITALITY PRIVATE LIMITED

> NCLT judgment dated 2026-03-09. Citation: TCN-2026-NCLT-00210. M/s Kaliber Associates Pvt. Ltd. (undergoing liquidation) filed an application under Section 7…

- **Court:** NCLT
- **Order date:** 9 Mar 2026
- **Citation:** TCN-2026-NCLT-00210
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/sanya-hospitality-private-limited-f886134e

## Summary

### Background

M/s Kaliber Associates Pvt. Ltd. (undergoing liquidation) filed an application under Section 7 of the IBC against M/s Sanya Hospitality Pvt. Ltd., seeking initiation of CIRP due to a default in repayment of a financial debt of Rs. 2,60,00,000 along with 12% interest.

## Facts

M/s Kaliber Associates Pvt. Ltd. (undergoing liquidation) filed an application under Section 7 of the IBC against M/s Sanya Hospitality Pvt. Ltd.

The Petitioner claims that the Respondent has committed a default in the repayment of financial debt amounting to Rs. 2,60,00,000 along with 12% interest.

A sum of Rs. 2,60,00,000 was disbursed to the CD on 31.05.2014 in two tranches of Rs. 1,92,50,000 and Rs. 67,50,000.

The audited financial statements of the CD for the financial years 2014–15 to 2017–18 disclose the said sum as ‘Unsecured Loans' under 'Long-Term Borrowings'.

Despite repeated demand letters dated 31.01.2019, 10.05.2019, and 18.07.2019, followed by a legal notice dated 20.07.2020, no payment was made.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section …

**Ratio:** The application is not

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**Reasoning:** The Adjudicating Authority calculated the limitation period, excluding the COVID period

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**Interpretation:** The date of default was considered to be 18.01.2019, and the new limitation

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**Application:** The principle of excluding the COVID period from the limitation period was

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** M/s Kaliber…
- **Respondents:** M/s Sanya…
- **Other parties:** Saurab S…; Mohan Lal…; +1 more
- **Advocates:** Anirban Bhattachar…; Rajeev Cho…; +3 more

## Timeline

- **2014-05-31 — Disbursement…**: Rs. 2,60,00,000 was disbursed…
- **2019-01-31 — Demand L…**: Demand letter issued by…

## 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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