Dispur, Dec. 31 -- The National Company Law Tribunal (NCLT), Guwahati, has held that a lender's failure to adhere to RBI circulars on restructuring stressed MSME accounts does not automatically render an insolvency petition under the Insolvency and Bankruptcy Code (IBC) non-maintainable.

Case Background

The December 4, 2025 order arose from a petition filed by Eduvanz Financing Pvt Ltd against Abutani Mercantile Pvt Ltd, an Assam-based MSME. Eduvanz had extended a Rs 3 crore loan in January 2023, repayable in 91 days, but the borrower defaulted, leading to its classification as a non-performing asset in August 2023.

A partial repayment of Rs 22 lakh was made, leaving an outstanding balance of Rs 1.41 crore. During the proceedings, Abut...