# Ratnaafin Capital Pvt. Ltd. vs. Saarthi Pedagogy Pvt. Ltd.

> NCLT judgment dated 2026-06-15. Citation: TCN-2026-NCLT-00559. Ratnaafin Capital Private Limited (Financial Creditor) filed a petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 15 Jun 2026
- **Citation:** TCN-2026-NCLT-00559
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/ratnaafin-capital-pvt-ltd-vs-saarthi-pedagogy-pvt-ltd-shbi1

## Summary

### Background

Ratnaafin Capital Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Saarthi Pedagogy Private Limited (Corporate Debtor) for a default in repayment of a financial debt amounting to Rs.2,12,99,747/-. The debt arose from a working capital term loan sanctioned on 15.06.2024, with the date of default stated as 10.11.2024.

## Facts

A Company Petition was filed on 09.02.2026 by Ratnaafin Capital Private Limited (Financial Creditor) against Saarthi Pedagogy Private Limited (Corporate Debtor) under Section 7 of the IBC, 2016.

The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) for a default in repayment of financial debt of Rs.2,12,99,747/- including interest.

The date of default is stated to be 10.11.2024.

Ratnaafin Capital Private Limited, the Financial Creditor, was incorporated on 22.11.2018.

Saarthi Pedagogy Private Limited, the Corporate Debtor, was incorporated on 07.02.2020.

Mr. Ravi Kapoor, an Insolvency Professional, was proposed as the Interim Resolution Professional (IRP) by the Financial Creditor.

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## Issues and analysis

### Issue 1: Whether the application for initiation of Corporate Insolvency Resolution Process (CIRP) under …

**Ratio:** An application under Section 7 of the IBC must be admitted if the Adjudicating Authority

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**Reasoning:** The Financial Creditor provided comprehensive documentation, including a Sanction Letter,

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**Interpretation:** The legal framework under Section 7 of the IBC mandates the admission of a CIRP

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**Application:** Given that all conditions for admission under Section 7(5)(a) of the IBC are

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## Parties

- **Judges:** SHAMMI KHAN,…; SANJEEV SHARMA,…; +2 more
- **Appellants:** Ratnaafin Capital…
- **Respondents:** Saarthi Pedagogy…
- **Other parties:** Ravi Ka…
- **Advocates:** Arpit Si…; Kuldeep A…

## Timeline

- **2018-11-22 — Incorporation of…**: Ratnaafin Capital Private Limited…
- **2020-02-07 — Incorporation of…**: Saarthi Pedagogy Private Limited…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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