# In the matter of ECOLEX INDUSTRIAL PRODUCTS PRIVATE LIMITED

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01612. The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by the…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01612
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/ecolex-industrial-products-private-limited-8e6d8ba9

## Summary

### Background

The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by the Financial Creditor/Petitioner for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Ecolex Industrial Product Private Limited, due to a default of Rs. 1,16,91,726/- as of 31.07.2024. The date of default is 26.04.2024.

## Facts

Aka Supplychain Solutions Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 to initiate CIRP against Ecolex Industrial Products Private Limited.

The total amount in default was Rs. 1,16,91,726/- as on 31.07.2024, with the date of default being 26.04.2024.

Aka Supplychain Solutions Private Limited is a financial institution.

Ecolex Industrial Product Private Limited is the Corporate Debtor.

Rahul Nareshbhai Shah, PCA, was nominated as the Interim Resolution Professional (IRP).

The Applicant/Financial Creditor disbursed unsecured loans to the Corporate Debtor.

The Corporate Debtor approached the Financial Creditor for a small business loan of Rs. 1.20 Crores.

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the …

**Ratio:** The Tribunal considered the application and

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**Reasoning:** The Tribunal found that the application was complete in all respects and that there was a

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**Interpretation:** The Tribunal interpreted the provisions of Section 7 of the IBC, 2016, and the

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**Application:** The Tribunal applied the provisions of Section 7 of the IBC, 2016, to the facts

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Aka Supplychain…
- **Respondents:** Ecolex Industrial…
- **Other parties:** Rahul Nareshbhai…
- **Advocates:** Arjun Pad…; Harmish…

## Timeline

- **2024-04-26 — Date of D…**: The date of default by…
- **2024-07-31 — Amount in D…**: The total amount in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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