# In the matter of ABHIYANTHA PROJECT ENGINEERING PRIVATE LIMITED

> NCLT judgment dated 2026-03-23. Citation: TCN-2026-NCLT-00251. SVL Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 23 Mar 2026
- **Citation:** TCN-2026-NCLT-00251
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/abhiyantha-project-engineering-private-limited-13fbb1bd

## Summary

### Background

SVL Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Abhiyantha Project Engineering Private Limited, the Corporate Debtor, based on a financial debt.

## Facts

SVL Limited filed a petition as a financial creditor under Section 7 of the IBC against Abhiyantha Project Engineering Private Limited.

The Corporate Debtor approached the petitioner for a loan for business expansion plans.

The Corporate Debtor acknowledged the debt on multiple occasions.

The petitioner issued a demand notice to the Corporate Debtor, but the Corporate Debtor did not pay.

The date of default is 27.01.2025, and the amount in default is Rs. 13,46,55,499/-.

The Corporate Debtor does not dispute the existence of the financial debt and admits to the default.

The petitioner provided documentary evidence to prove the disbursement of the financial debt and default.

…

## Issues and analysis

### Issue 1: Whether the petition is complete in terms of Section 7(5) of the Code and whether the Financial …

**Ratio:** The Tribunal finds that the Financial Creditor discharged its burden of proof under

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**Reasoning:** The petitioner provided necessary documentary evidence to prove the disbursement of the

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**Interpretation:** Section 7 of the IBC requires the establishment of a financial debt and a

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**Application:** The Tribunal admitted the petition and initiated CIRP against Abhiyantha

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** SVL…
- **Respondents:** Abhiyantha…; Abhiyantha…
- **Other parties:** Amier Hamsa Ali…
- **Advocates:** Madhum…; Sangamithra…; +3 more

## Timeline

- **2025-01-20 — Demand N…**: Petitioner issued a demand notice to the Corporate Debtor seeking repayment of…
- **2025-01-27 — Date of D…**: The Corporate Debtor defaulted on…

## 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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