# Avanti Finance Private Limited vs. Our Food Private Limited

> NCLT judgment dated 2026-10-09. Citation: TCN-2026-NCLT-01247. Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 9 Oct 2026
- **Citation:** TCN-2026-NCLT-01247
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/our-food-private-limited-dnb5b

## Summary

### Background

Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Our Food Private Limited (Corporate Debtor) for a default amount of Rs. 8,42,87,387/-. The petition was initially filed on 19.06.2025 but was returned due to defects, including being time-barred. After an interim application for condonation of delay was not approved, the Financial Creditor withdrew and re-filed the petition on 13.08.2025. A subsequent Rule 63 Appeal was allowed on 19.12.2025, permitting the Financial Creditor to refile the petition with an explanation for the delay. The Corporate Debtor contested the petition, arguing that there was no creditor-debtor relationship, the claim

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## Facts

Avanti Finance Private Limited (Financial Creditor) filed a petition under Section 7 of the IBC, 2016, against Our Food Private Limited (Corporate Debtor).

The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) for a default amount of Rs. 8,42,87,387/-.

Our Food Private Limited was incorporated on 09.06.2014, with its registered office in Visakhapatnam, Andhra Pradesh.

Avanti Finance Private Limited is a non-banking financial company (NBFC) incorporated under the Companies Act, 2013.

Our Food Private Limited is a private limited company engaged in setting up micro processing units.

The Financial Creditor advanced a loan facility of Rs.7,00,00,000/- to the Corporate Debtor via a Loan Agreement dated 31.05.2021, at 15% APR.

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## Issues and analysis

### Issue 1: Whether the present Petition is filed …

**Ratio:** The limitation period for initiating CIRP under Section 7 of the IBC is three years from

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**Reasoning:** The NCLT determined that the last repayment made by the Corporate Debtor was on

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**Interpretation:** The NCLT interpreted the provisions of the Limitation Act, 1963, specifically

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**Application:** Applying these principles, the NCLT found that despite the Corporate Debtor's

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## Parties

- **Judges:** KISHORE VEMULAPALL…; UMESH KUMAR…
- **Appellants:** Avanti Finance…
- **Respondents:** Our Food Private…
- **Other parties:** Bala R…; Kantipudi Venkata…
- **Advocates:** Vikramadity…; Yashika…; +2 more

## Timeline

- **2021-05-31 — Loan Agreement and…**: Financial Creditor advanced a loan facility to Corporate Debtor via a Loan Agreement, and…
- **2021-10-01 — Date of D…**: Date of default as stated in…

## 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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