{"id":356865,"date":"2025-08-18T12:30:44","date_gmt":"2025-08-18T07:00:44","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=356865"},"modified":"2025-08-19T17:07:41","modified_gmt":"2025-08-19T11:37:41","slug":"nclat-3-year-limitation-period-for-section-95-ibc-application","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/08\/18\/nclat-3-year-limitation-period-for-section-95-ibc-application\/","title":{"rendered":"Limitation period of S.95 IBC applications against personal guarantor based on DRT recovery certificate is three years: NCLAT"},"content":{"rendered":"
\n

National Company Law Appellate Tribunal, Delhi<\/span>: In an appeals filed by the IDBI Bank, challenging the two identical orders passed on 5-5-2025 by the National Company Law Tribunal (\u2018NCLT\u2019), Indore Special Bench, Court \u2014 I, whereby IDBI\u2019s Section 95<\/a> application under Insolvency and Bankruptcy Code, 2016<\/a> (\u2018IBC\u2019) against the personal guarantor (\u2018respondent\u2019) was rejected, the Bench of Ashok Bhushan J.<\/span> and Barun Mitra Member (Technical), upheld the decision of adjudicating authority that the Section 95 application filed by IDBI Bank was filed after expiry of three years period of limitation. Thus, the Tribunal found no merit in the appeals and accordingly, dismissed them.<\/p>\n

Background<\/h3>\n

IDBI Bank extended credit facilities to the corporate debtor \u2014 Great Logistic and Parking Services Pvt. Ltd, with the respondent standing as personal guarantor and executed a personal guarantee in favour of the creditor. The corporate debtor defaulted in repayment of the cash credit facilities, leading to the classification of the account as Non-Performing Asset (\u2018NPA\u2019). The creditor issued a guarantee invocation notice to the personal guarantor, filed an Original Application before the Debt Recovery Tribunal (\u2018DRT\u2019) and a recovery certificate was issued in favour of the creditor on 25-1-2019. After issuing demand notice under Rule 7(1) of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process of Personal Guarantors to Corporate Debtors) Rules, 2019 (\u20182019 Rules\u2019), the application under Section 95 IBC was filed by the IDBI Bank on 2-9-2024.<\/p>\n

The adjudicating authority by the impugned order, rejected the application as barred by time. It was held that from recovery certificate dated 25-1-2019, 3 years would expire on 25-1-2022, and even giving benefit of order of the Supreme Court in Cognizance for Extension of Limitation<\/span>, In re, Suo Moto WP (Civil) No. 3 of 2022, (\u2018Cognizance for Extension of Limitation case\u2019)<\/span> the limitation period would extend only till 11-1-2024, and the application having been filed on 2-9-2024 was beyond limitation period. Adjudicating authority by the impugned order rejected the applications as barred by time, aggrieved by which orders, IDBI Bank filed the present appeals.<\/p>\n

The appellant submitted that that in view of the judgment of the Supreme Court in Tottempudi Salalith v. State Bank of India<\/span>, (2024) 1 SCC 24<\/a> where it was held that decree passed by Court shall remain valid for a period of 12 years and during which claim can be filed in the IBC, the limitation for filing Section 95 application in the present case has to be treated as 12 years and hence the application filed was not barred by time.<\/p>\n

Case Analysis and Decision<\/h3>\n

The Tribunal relying on Kotak Mahindra Bank Ltd. v. A. Balakrishnan<\/span>, (2022) 9 SCC 186<\/a>, held that the limitation for filing application under Section 7 was only three years under Article 137<\/a> of the Limitation Act, 1963<\/a> (\u2018Limitation Act\u2019). The tribunal noted that the appellant\u2019s reliance on Tottempudi Salalith<\/span> to claim a 12-year limitation was wholly incorrect and not borne out from the judgment.<\/p>\n

The Tribunal also referred to Gaurav Hargovindbhai Dave v. Asset Reconstruction Ltd<\/span>, (2019) 10 SCC 572<\/a>, where Supreme Court clearly laid down that limitation for Section 7 application was only three years as per Article 137 of Limitation Act. The Tribunal not finding any substance in the submission of the appellant that for filing an application under IBC 12 years limitation would apply, and accordingly, upheld the adjudicating authority\u2019s order that the Section 95 application filed by IDBI Bank was filed after expiry of three years period of limitation, even after accounting for the benefit under Cognizance for Extension of Limitation case (\u2018supra\u2019)<\/span>. The Tribunal, thus finding no merit in the appeals, dismissed them.<\/p>\n

[IDBI Bank v. Hemangi Patel, 2025 SCC OnLine NCLAT 1263<\/a>, decided on 8-8-2025<\/span>]<\/p>\n

\n

Advocates who appeared in this case:<\/p>\n

For the Appellant:<\/span> Vaibhav Gaggar and Shreedhar Gaggar, Advocates.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The appellant relying on Tottempudi Salalith v. State Bank of India, (2024) 1 SCC 24, contended that the limitation for filing Section 95 IBC application in the present case must be treated as 12 years and hence the application filed was not barred by time.<\/p>\n","protected":false},"author":67011,"featured_media":356901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[58464,30361,31387,87370,32057,87371,45951,33589,87369,87368],"class_list":["post-356865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-barun-mitra","tag-ibc","tag-insolvency-and-bankruptcy-code-2016","tag-limitation-act-1963-justice-ashok-bhushan","tag-limitation-period","tag-nclat-delhi","tag-personal-guarantor","tag-section-7-ibc","tag-section-95-ibc","tag-time-barred-suit"],"yoast_head":"\nNCLAT: 3 Year 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National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Dr Alok Srivastava (Technical\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":346595,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/04\/28\/as-per-guarantee-deed-guarantors-liability-arises-only-upon-invocation-of-demand-guarantee-by-lender-nclat-scc-times\/","url_meta":{"origin":356865,"position":1},"title":"Zee Entertainment guarantor\u2019s liability arises only upon invocation of demand guarantee by IDBI: NCLAT dismisses IDBI\u2019s plea to initiate CIRP","author":"Ritu","date":"April 28, 2025","format":false,"excerpt":"\u201cThere shall be liberty to the appellant to file a fresh Section 7 application for any default on the part of the corporate debtor subsequent to 10A period.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":293939,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/06\/09\/personal-guarantors-insolvency-commencement-of-interim-moratorium\/","url_meta":{"origin":356865,"position":2},"title":"Personal Guarantors\u2019 Insolvency: Commencement of Interim Moratorium","author":"Editor","date":"June 9, 2023","format":false,"excerpt":"by Sharmistha Ghosh\u2020","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"personal guarantors insolvency","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/personal-guarantors-insolvency.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/personal-guarantors-insolvency.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/personal-guarantors-insolvency.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/personal-guarantors-insolvency.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":251773,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/27\/personal-guarantor\/","url_meta":{"origin":356865,"position":3},"title":"NCLT | Personal Guarantor not liable to be prosecuted under S. 95 IBC where corporate debtor concerned is not under corporate insolvency resolution process","author":"Bhumika Indulia","date":"July 27, 2021","format":false,"excerpt":"National Company Law Tribunal, Mumbai:\u00a0Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member dismissed an interlocutory application filed against a personal guarantor under Section 95 (\"application by creditor to initiate insolvency resolution process\") of the Insolvency and Bankruptcy Code, 2016, finding that the Corporate Debtor concerned\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":270876,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/29\/nclat-right-to-payment-cannot-be-accrued-when-a-corporate-guarantee-is-not-invoked-before-cirp-initiation\/","url_meta":{"origin":356865,"position":4},"title":"NCLAT| Right to payment cannot be accrued when a corporate guarantee is not invoked before CIRP initiation","author":"Editor","date":"July 29, 2022","format":false,"excerpt":"\u00a0 \u00a0 National Company Law Appellant Tribunal, New Delhi: The Bench of Ashok Bhushan, J., Chairperson, and Shreesha Merla, Technical Member, while dismissing a company appeal held that when a Corporate Debtor as a Guarantor has not invoked the Corporate Guarantee before the initiation of Corporate Insolvency Resolution Process (hereinafter\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":277011,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/11\/08\/interim-moratorium-under-s-96-ibc-in-respect-of-one-of-the-guarantors-would-not-ipso-facto-apply-against-a-co-guarantor-delhi-hc-stays-suit-in-view-of-bar-under-s-96-ibc\/","url_meta":{"origin":356865,"position":5},"title":"Interim moratorium under S. 96 IBC in respect of one of the guarantors would not ipso facto apply against a co-guarantor; Delhi HC stays suit in view of bar under S.96 IBC","author":"Prachi Bhardwaj","date":"November 8, 2022","format":false,"excerpt":"Delhi High Court: In two separate suits filed seeking recovery of amount from the defendants, being ex- promoters and personal guarantors of debt of Bhushan Steel Limited, now renamed as Tata Steel Limited, Amit Bansal J., stayed the proceedings in the present suit against defendants in view of the clear\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Delhi High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/delhi_high_court.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/delhi_high_court.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/delhi_high_court.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/delhi_high_court.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/delhi_high_court.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/356865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=356865"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/356865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/356901"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=356865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=356865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=356865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}