NCLT Kolkata admits Section 7 IBC application by Central Bank of India against corporate guarantor Jainco Automotive for ₹43.47 crore debt.
Tribunal rejects limitation defense citing balance sheet acknowledgments from 2020-2023 extending limitation period under Section 18 of Limitation Act.
Corporate Debtor provided corporate guarantee and collateral security for Eastern Gases Limited's consortium loan which became NPA in May 2017.
Mr. Subodh Kumar Agarwal appointed as IRP with moratorium imposed under Section 14 and CIRP timeline set under Regulation 40A.