# In the matter of Growmore Wealth Private Limited CP (IB) 82-NCLT-AHM-2022 > Read the full IBC case summary for In the matter of Growmore Wealth Private Limited CP (IB) 82-NCLT-AHM-2022. NCLT judgment dated 2022-06-21. Citation:… - **Court:** NCLT - **Order date:** 21 Jun 2022 - **Citation:** TCN-2022-NCLT-04645 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/growmore-wealth-private-limited-cp-ib-82-nclt-ahm-2022-3d574d49 ## Summary ### Background The applicant, Rajhans Infrabuild LLP, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process against Growmore Wealth Private Limited, the corporate debtor, due to an alleged default in repayment of a financial debt. ## Facts Rajhans Infrabuild LLP, the applicant and financial creditor, filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, on March 17, 2022. The application sought to initiate the Corporate Insolvency Resolution Process against Growmore Wealth Private Limited, the corporate debtor, for an alleged default in financial debt repayment. The applicant is a Limited Liability Partnership firm engaged in construction, entertainment, and hospitality businesses, while the corporate debtor is a private limited company in the financial sector. … ## Issues and analysis ### Issue 1: Whether there is a financial debt due and payable by… **Ratio:** The debt is due and payable, and a default has occurred, as evidenced by the agreement,… **Reasoning:** The corporate debtor entered into an agreement to receive financial assistance, issued a… **Interpretation:** The Tribunal interpreted the agreement, promissory note, and dishonoured cheque… **Application:** Given the clear documentation of the loan, the promissory note, the dishonoured… ## Parties - **Judges:** DEEPTI M…; Ajai Das Me… - **Advocates:** For the Applicant:…; For the respondent… ## Timeline - **December 20, 2020 — Agreement for Financial…**: Rajhans Infrabuild LLP and Growmore Wealth Private Limited entered into an agreement for… - **December 20, 2020 — Promissory Not…**: The corporate debtor issued a… --- This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/growmore-wealth-private-limited-cp-ib-82-nclt-ahm-2022-3d574d49