# Kushal Finnovatio Capital Pvt Ltd vs. Kalahridhaan Trendz Limited

> NCLT judgment dated 2026-08-14. Citation: TCN-2026-NCLT-00831. Kushal Finnovatio Capital Pvt Ltd (Financial Creditor) filed a petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 14 Aug 2026
- **Citation:** TCN-2026-NCLT-00831
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/kushal-finnovatio-capital-pvt-ltd-vs-kalahridhaan-trendz-limited-htcup

## Summary

### Background

Kushal Finnovatio Capital Pvt Ltd (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Kalahridhaan Trendz Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The Financial Creditor claimed a total default amount of Rs. 3,26,46,084/- with the date of default being 03.10.2024. The Financial Creditor had provided an "SCF-Single Borrower (Invoice deduction)" facility of Rs. 2 Crores to the Corporate Debtor under a sanction letter/loan agreement dated 14.02.2024. This facility was secured by cash collateral, a demand promissory note, personal guarantees from the Corporate Debtor's directors, and undated cheques. The Corporate Debtor failed to make repayments against

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## Facts

Kushal Finnovatio Capital Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Kalahridhaan Trendz Limited.

The total amount in default is Rs. 3,26,46,084/-.

The date of default is 03.10.2024.

Kushal Finnovatio Capital Private Limited is identified as a Financial Creditor/financial institution.

Kalahridhaan Trendz Limited was incorporated on 27.05.2016.

The Financial Creditor granted an "SCF-Single Borrower (Invoice deduction)" facility of Rs. 2 Crores to the Corporate Debtor.

The sanction letter/loan agreement for the facility was dated 14.02.2024.

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## Issues and analysis

### Issue 1: Whether the present Section 7 IBC petition filed by Kushal Finnovatio Capital Private Limited …

**Ratio:** A Section 7 IBC petition is maintainable if there is a financial debt and a default has

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**Reasoning:** The NCLT heard both sides and perused the written submissions and documents. The

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**Interpretation:** The NCLT interpreted the requirements of Section 7 IBC to mean that the

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**Application:** The NCLT applied these principles to the facts, concluding that the Financial

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Kushal Finnovatio…
- **Respondents:** Kalahridhaan…
- **Other parties:** CoC…; Niranjan D.…; +4 more
- **Advocates:** Amar B…; Kunal Vai…; +1 more

## Timeline

- **2024-02-14 — Loan Agreement and…**: Financial Creditor granted an "SCF-Single Borrower (Invoice deduction)" facility of Rs. 2…
- **2024-05-06 — Invoices Pr…**: The Corporate Debtor provided 26 invoices from Shree Maruti Enterprise to the Financial…

## 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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