Application u/s. 7 of IBC rejected as debt invoking guarantee falls between 10A period

IDBI Bank Limited Vs Zee Entertainment Enterprises Limited (NCLAT Delhi) NCLAT Delhi held that when the debt invoking the guarantee falls between the 10A period application u/s. 7 of the Insolvency and Bankruptcy Code is barred by limitation. Accordingly, order rejecting application upheld. Facts- This appeal by IDBI Bank has been filed challenging the order dated 19.05.2023 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench, Court – IV), rejecting Section 7 application filed by the appellant as barred by Section 10A of the Insolvency and Bankruptcy Code, 2016....