# In the matter of BNH INFRA PROJECTS (INDIA) PRIVATE LIMITED

> NCLT judgment dated 2026-03-16. Citation: TCN-2026-NCLT-00229. Canara Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 16 Mar 2026
- **Citation:** TCN-2026-NCLT-00229
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/bnh-infra-projects-india-private-limited-725bf98c

## Summary

### Background

Canara Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. BNH Infra Projects India Pvt. Ltd. based on the corporate debtor's default in repayment of financial debt.

## Facts

Canara Bank filed a petition under Section 7 of the I&B Code, 2016, to initiate CIRP against M/s BNH Infra Projects India Pvt Ltd.

The Corporate Debtor defaulted on a financial debt of Rs.11,31,33,234.50/- on 27.03.2024, when the loan account was classified as NPA.

The Financial Creditor sanctioned various credit facilities to the Corporate Debtor, including Overdraft, Working Capital Term Loan under GECL, GECL Extension, and Term Loan, aggregating to Rs.54,79,00,000/-.

The Corporate Debtor's account was classified as Non-Performing Asset (NPA) on 27.03.2024.

The total outstanding amount as on 28.02.2025 was Rs.64,30,48,821.77/- along with further interest and charges.

…

## Issues and analysis

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

**Ratio:** Section 7 of the IBC, 2016, requires the Financial Creditor to establish the existence of

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**Reasoning:** The Financial Creditor presented sanction letters, loan documents, hypothecation

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**Interpretation:** The Adjudicating Authority interpreted Section 7 to mean that if sufficient

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**Application:** The Adjudicating Authority applied Section 7 to the facts of the case and

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Canara…
- **Respondents:** M/s BNH Infra…
- **Other parties:** Canara Bank…; Shirley M…; +2 more

## Timeline

- **2015-06-13 — General Power of…**: General Power of Attorney dated 13.06.2015, seeking initiation of Corporate Insolvency…
- **2024-03-27 — NPA Decla…**: The account of the CD was…

## 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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