NCLT Dismisses Prithvi Finvest's Insolvency Petition Against Phyto Biotech

NCLT Kolkata dismisses insolvency petition filed by NBFC Prithvi Finvest against Phyto Biotech for ₹11.43 crore debt due to being time-barred.
Corporate Debtor Phyto Biotech opposed admission citing limitation, related party status, and lack of debt acknowledgement beyond 2013.
Tribunal finds default occurred in 2009-2010 with no valid acknowledgement between 2010-2016, making 2024 petition inadmissible.
Financial Creditor sought exclusion of 6-year period during its own CIRP/liquidation, which NCLT rejected as the forum was not wrong.