# In the matter of CANDID GUARD SERVICES PRIVATE LIMITED

> NCLT judgment dated 2025-09-09. Citation: TCN-2025-NCLT-01365. The application was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, to…

- **Court:** NCLT
- **Order date:** 9 Sept 2025
- **Citation:** TCN-2025-NCLT-01365
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/candid-guard-services-private-limited-47b66ec7

## Summary

### Background

The application was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) for Candid Guard Services Private Limited.

## Facts

The Corporate Applicant, Candid Guard Services Private Limited, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP.

The Corporate Applicant faced financial difficulties due to the discontinuation of assistance from DGR, the introduction of GST, the COVID-19 pandemic, and a raid by the State GST Department.

The Corporate Applicant defaulted in repayment of debts amounting to more than Rs 1 Crore.

The Adjudicating Authority directed the Corporate Applicant to serve copies of the application to various departments and financial creditors.

The Corporate Applicant submitted affidavits of service confirming that copies of the application had been served.

…

## Issues and analysis

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

**Ratio:** The application was admitted based on the Corporate Applicant's default in repayment of

…

**Reasoning:** The Corporate Applicant had taken loans from various financial creditors and operational

…

**Interpretation:** Section 10 of the Insolvency and Bankruptcy Code, 2016, allows a corporate

…

**Application:** The Adjudicating Authority considered the financial difficulties faced by the

…

## Parties

- **Judges:** Deep Chand…; Banwari Lal…
- **Respondents:** Candid Guard…
- **Other parties:** Pravin…; Indusind Bank…; +12 more
- **Advocates:** Adeel P…

## Timeline

- **2024-06-30 — Application…**: The present application was filed on 30.06.2024 by the Corporate Applicant through its…
- **2025-09-09 — Date of Prono…**: Date of Pronouncement:…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

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-cuttack/candid-guard-services-private-limited-47b66ec7