# Tatad Nayan Gautambhai vs. Pradhin Ltd

> NCLT judgment dated 2026-07-02. Citation: TCN-2026-NCLT-00712. Tatad Nayan Gautambhai, a Financial Creditor, filed a petition under Section 7 of the IBC,…

- **Court:** NCLT
- **Order date:** 2 Jul 2026
- **Citation:** TCN-2026-NCLT-00712
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/tatad-nayan-gautambhai-vs-pradhin-ltd-hgmsg

## Summary

### Background

Tatad Nayan Gautambhai, a Financial Creditor, filed a petition under Section 7 of the IBC, 2016, against Pradhin Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The petition alleged a default on an unsecured loan of Rs. 12,98,00,000/-, which included principal and 18% interest, with a due date of 30.09.2025. The Corporate Debtor had issued post-dated cheques but later requested the Petitioner not to present them due to financial difficulties, while confirming the outstanding debt.

## Facts

Tatad Nayan Gautambhai (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016, against Pradhin Limited (Respondent/Corporate Debtor).

The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) due to a financial debt default.

Pradhin Limited was incorporated on 03.12.1982 with an Authorised Share Capital of Rs.5,00,00,000/- and Paid-up Capital of Rs.3,64,69,000/-.

The Petitioner and Corporate Debtor entered into a loan agreement on 03.09.2024 for an unsecured loan of Rs.11,00,00,000/- at 18% interest per annum.

Rs.10,83,00,000/- was disbursed in four tranches between 09.09.2024 and 25.09.2024.

An additional Rs.17,00,000/- was paid to a consultant for facilitating the loan.

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## Issues and analysis

### Issue 1: Whether there is a 'debt' and 'default' by the Corporate Debtor, Pradhin Limited, as per Section 7 …

**Ratio:** The Tribunal found clear evidence of financial debt and default, supported by the loan

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**Reasoning:** The Petitioner provided comprehensive documentation proving the loan disbursement,

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**Interpretation:** Section 7 of IBC requires the Adjudicating Authority to ascertain the existence

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**Application:** The evidence presented by Tatad Nayan Gautambhai conclusively established the

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Tatad Nayan…
- **Respondents:** Pradhin…
- **Other parties:** Rajesh…
- **Advocates:** Giri…; Shri. Bhagavath…; +1 more

## Timeline

- **1982-12-03 — Incorporation of…**: Pradhin Limited was…
- **2024-09-03 — Loan Agreemen…**: A loan agreement was entered into between Tatad Nayan Gautambhai (Financial Creditor) and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(12) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

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