# In the matter of BASANDARI BOTTLERS PRIVATE LIMITED

> NCLT judgment dated 2026-02-20. Citation: TCN-2026-NCLT-00171. M/s Basandrai Bottlers Private Limited filed an application under Section 10 of the Insolvency…

- **Court:** NCLT
- **Order date:** 20 Feb 2026
- **Citation:** TCN-2026-NCLT-00171
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/basandari-bottlers-private-limited-6158330c

## Summary

### Background

M/s Basandrai Bottlers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking commencement of the Corporate Insolvency Resolution Process (CIRP) due to an admitted financial default.

## Facts

M/s Basandrai Bottlers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Debtor's application stated an admitted financial default aggregating to ₹1,80,31,404/-.

The Corporate Applicant is a private limited company incorporated on 02.12.1992.

The Corporate Debtor availed financial assistance from The Himachal Pradesh State Co-operative Bank Ltd., Nerchowk on 23.11.2009.

The loan account was classified as Non-Performing Asset (NPA) as on 31.08.2019.

A notice dated 27.04.2022 under Section 13(2) of the SARFAESI Act was issued by the Financial Creditor.

A Possession Notice dated 13.02.2024 under Section 13(4) of the SARFAESI Act was also issued.

…

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016 is complete …

**Ratio:** Section 10(3) of the Code requires mandatory documents, including audited and provisional

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**Reasoning:** The Adjudicating Authority considered the documents placed on record and found them to be

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**Interpretation:** The application is deemed complete if all mandatory documents are filed and

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**Application:** Since all required documents were filed, the application was considered

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## Parties

- **Judges:** KHETRABASI…; SHISHIR A…
- **Respondents:** M/S BASANDRAI…
- **Other parties:** Bhavna B…
- **Advocates:** Prashant…; Shivam…

## Timeline

- **1992-12-02 — Incorpor…**: The Corporate Applicant is a private…
- **2009-11-23 — Financial Ass…**: The Corporate Debtor availed financial assistance from The Himachal Pradesh State…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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