# In the matter of LET'S JUMP TRAMPOLINE AND ADVENTURE PRIVATE LIMITED

> NCLT judgment dated 2026-04-06. Citation: TCN-2026-NCLT-00297. Apogee Enterprises Pvt. Ltd. filed a Section 7 application under the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLT-00297
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/lets-jump-trampoline-and-adventure-private-limited-8eb4fa22

## Summary

### Background

Apogee Enterprises Pvt. Ltd. filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, against Let's Jump Trampoline and Adventure Pvt. Ltd. for defaulting on a financial debt of Rs. 6,60,12,740/-. The Corporate Debtor contested the application, claiming the transaction was a sham and part of a structured arrangement for subscribing to preferential warrants of JHS Svendgaard Group.

## Facts

Apogee Enterprises Pvt. Ltd. (Financial Creditor) filed a Section 7 application against Let's Jump Trampoline and Adventure Pvt. Ltd. (Corporate Debtor) for defaulting on a financial debt.

The date of default is stated to be 25.10.2025.

The total defaulted amount claimed by the Financial Creditor is Rs. 6,60,12,740/-, including principal and interest.

The Corporate Debtor argued that the transaction was not a financial debt but part of a structured arrangement for subscribing to preferential warrants of JHS Svendgaard Group.

The Corporate Debtor claimed that the funds were merely routed through its account and that it did not benefit commercially from the funds.

…

## Issues and analysis

### Issue 1: Whether the Petitioner has established …

**Ratio:** The Adjudicating Authority found that the loan request letters, acceptance letters, and

…

**Reasoning:** The documents showed that the Corporate Debtor had requested a loan from the Financial

…

**Interpretation:** The Adjudicating Authority interpreted the documents as evidence of a financial

…

**Application:** The Adjudicating Authority applied the definition of 'financial debt' under

…

## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Apogee Enterprises…; Let's Jump…
- **Respondents:** Let's Jump…
- **Other parties:** Rajat Mah…; Sohan Lal…; +3 more
- **Advocates:** Rashesh San…; Arpit Si…; +2 more

## Timeline

- **2025-10-25 — Date of D…**: The date of default is…
- **2026-02-03 — Filing of Company…**: The Company Petition CP (IB) No. 41 of 2026 is filed on 03.02.2026 by the Applicant -…

## 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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