# Livein Aqua Solutions Private Limited vs. HDFC Bank Limited

> SC judgment dated 2025-11-24. Citation: TCN-2025-SC-00108. HDFC Bank Limited, as a financial creditor, filed an application under Section 7 of the Insolvency…

- **Court:** SC
- **Order date:** 24 Nov 2025
- **Citation:** TCN-2025-SC-00108
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/livein-aqua-solutions-private-limited-vs-hdfc-bank-limited-pvqif

## Summary

### Background

HDFC Bank Limited, as a financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Livein Aqua Solutions Private Limited (the corporate debtor). The application was verified on 26.07.2023 but supported by an affidavit deposed to on 17.07.2023, a date prior to the application's verification. The National Company Law Tribunal (NCLT), Ahmedabad Bench, rejected this application on 18.06.2024, citing the defective affidavit. HDFC Bank appealed to the National Company Law Appellate Tribunal (NCLAT), which allowed the appeal on 27.08.2025, restoring the Section 7 petition and remanding it to the NCLT for a decision on merits. Aggrieved by the NCLAT's order, Livein Aqua Solutions Private Limited filed the present appeal

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## Facts

An application under Section 7 of the IBC was filed by HDFC Bank Limited against Livein Aqua Solutions Private Limited.

The Section 7 application was verified on 26.07.2023, but the supporting affidavit was deposed to on 17.07.2023.

The NCLT, Ahmedabad Bench, rejected the Section 7 application on 18.06.2024, finding it defective due to the affidavit date.

HDFC Bank Limited appealed this NCLT order to the NCLAT.

The NCLAT allowed HDFC Bank's appeal on 27.08.2025, restoring the Section 7 petition and remanding the matter to NCLT for decision on merits.

Livein Aqua Solutions Private Limited (the company) availed a loan facility of ₹5.5 crores from HDFC Bank, which was classified as a non-performing asset on 04.08.2019.

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## Issues and analysis

### Issue 1: Whether an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, verified on …

**Ratio:** A defective affidavit, where the deposition date precedes the application verification

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**Reasoning:** The Court noted that while Rule 34(4) of the NCLT Rules requires verification by

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**Interpretation:** The Court interpreted the statutory mandate of the proviso to Section 7(5)(b)

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**Application:** In the present case, the NCLT's rejection of HDFC Bank's Section 7 application

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## Parties

- **Judges:** SANJAY KU…; ALOK ARAD…
- **Respondents:** Livein Aqua…; HDFC Bank L…

## Timeline

- **2019-08-04 — Loan Classifie…**: The loan facility availed by Livein Aqua Solutions Private Limited from HDFC Bank Limited…
- **2023-07-17 — Affidavit D…**: The affidavit supporting the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 62 — Appeal to Supreme Court](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-62)

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