# In the matter of MIKI MAIZE MILLING PRIVATE LIMITED

> NCLT judgment dated 2026-02-11. Citation: TCN-2026-NCLT-00131. State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 11 Feb 2026
- **Citation:** TCN-2026-NCLT-00131
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/miki-maize-milling-private-limited-71b8565a

## Summary

### Background

State Bank of India filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Miki Maize Milling Private Limited for default in repayment of financial debt.

## Facts

State Bank of India, the Financial Creditor, filed a petition against Miki Maize Milling Private Limited, the Corporate Debtor, under Section 7 of the IBC.

The Corporate Debtor availed multiple credit facilities from the Financial Creditor amounting to Rs. 22.54 Crore.

The Corporate Debtor defaulted in repayment of the financial debt on 25.07.2021.

The Financial Creditor classified the account of the Corporate Debtor as Non-Performing Asset on 29.09.2023.

A Demand Notice dated 07.10.2023 was issued by the Financial Creditor, followed by SARFAESI proceedings.

The Financial Creditor filed a Record of Default with Information Utility (NeSL) reflecting default dated 25.07.2021, which was authenticated.

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## Issues and analysis

### Issue 1: Whether the Financial Creditor has established the existence of a financial debt and default by the …

**Ratio:** Yes, the Financial Creditor has provided sufficient evidence, including loan documents,

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**Reasoning:** The Adjudicating Authority relied on the documents submitted by the Financial Creditor,

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**Interpretation:** The authenticated Record of Default from an Information Utility holds

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**Application:** The Adjudicating Authority applied the principles laid down by the Supreme

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## Parties

- **Judges:** SH. SHAMM…; SANJEEV S…
- **Appellants:** State Bank of…
- **Respondents:** Miki Maize…
- **Other parties:** Sunit Jagdishchand…
- **Advocates:** Saurabh R.…

## Timeline

- **2026-01-17 — Filing of Company…**: The Company Petition was…
- **2021-07-25 — Default…**: The Corporate Debtor committed default…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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