# In the matter of RANINGA PAPER MILLS PRIVATE LIMITED

> NCLT judgment dated 2025-07-29. Citation: TCN-2025-NCLT-01133. State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 29 Jul 2025
- **Citation:** TCN-2025-NCLT-01133
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/raninga-paper-mills-private-limited-6d1e13dc

## Summary

### Background

State Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Raninga Paper Mills Private Limited due to default in payment of financial debt.

## Facts

State Bank of India (SBI) filed a petition on 11.07.2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Raninga Paper Mills Private Limited.

The petition was filed due to a default in payment of an outstanding financial debt of Rs. 28,12,30,051.61, including interest, with the date of default stated as 30.06.2024.

SBI, as the Financial Creditor, had provided financial assistance of Rs. 25.75 Crore to Raninga Paper Mills Private Limited.

Raninga Paper Mills Private Limited was sanctioned and availed loan facilities amounting to Rs. 15,00,00,000 on 10.11.2018.

The Corporate Debtor initially maintained the facilities regularly but became irregular from March 2024 onwards, leading to the account being classified as Non-Performing Asset (NPA) on 27.09.2024.…

## Issues and analysis

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

**Ratio:** The Tribunal found that the Financial Creditor discharged its burden of proof under

…

**Reasoning:** The Financial Creditor provided records of loan facilities, sanction letters, and a

…

**Interpretation:** Section 7 of the IBC requires the Financial Creditor to prove the existence of

…

**Application:** In this case, the Financial Creditor provided sufficient documentation to prove

…

## Parties

- **Judges:** SH. SHAMM…; SANJEEV S…
- **Appellants:** State Bank of…
- **Respondents:** Raninga Paper…
- **Other parties:** Chandresh…; Jigar Tarunkumar…
- **Advocates:** Rituraj…; Prateek T…

## Timeline

- **2025-07-11 — Petition…**: State Bank of India filed the…
- **2024-06-30 — Date of D…**: The Corporate Debtor defaulted…

## 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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