The NCLT Mumbai bench ruled that Canara Bank’s claim against N.S.D. Nirman was time-barred | AI Generated Representational Image
Mumbai, August 26, 2026: The National Company Law Tribunal (NCLT), Mumbai has rejected the Bandra-based Canara Bank’s insolvency plea of Rs 742.06-crore against Uttar Pradesh-based N.S.D. Nirman Private Limited, holding that the bank’s claim against the corporate guarantor was barred by limitation.
The bank had filed the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), seeking initiation of Corporate Insolvency Resolution Process (CIRP) against N.S.D. Nirman, which had stood as a corporate guarantor for Frost International Ltd.,…