The case involves an appeal by Punjab National Bank against an order of the National Company Law Appellate Tribunal (NCLAT). The NCLAT had set aside an order of the National Company Law Tribunal (NCLT) that admitted a petition filed by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC) against M/s Jailaxmi Sugar Products Pvt. Limited, the Corporate Debtor. The NCLAT set aside the NCLT's order on the ground that the application was barred by limitation. The appellant, Punjab National Bank, claims that the Corporate Debtor defaulted in repayment and became a Non-Performing Asset (NPA) on 31.03.2013. The appellant issued a demand notice dated 30.04.2013 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and

The case involves an appeal by Punjab National Bank against an order of the National Company Law Appellate Tribunal (NCLAT). The NCLAT had set aside an order of the National Company Law Tribunal (NCLT) that admitted a petition filed by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC) against M/s Jailaxmi Sugar Products Pvt. Limited, the Corporate Debtor. The NCLAT set aside the NCLT's order on the ground that the application was barred by limitation. The appellant, Punjab National Bank, claims that the Corporate Debtor defaulted in repayment and became a Non-Performing Asset (NPA) on 31.03.2013. The appellant issued a demand notice dated 30.04.2013 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and