# In the matter of Aneri Fincap Limited

> NCLT judgment dated 2025-02-05. Citation: TCN-2025-NCLT-00521. The case involves a Company Petition filed under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Feb 2025
- **Citation:** TCN-2025-NCLT-00521
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aneri-fincap-limited-979c7e2a

## Summary

### Background

The case involves a Company Petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Database Trading Private Limited (Financial Creditor/Applicant) seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aneri Fincap Limited (Corporate Debtor/Respondent). The Financial Creditor claims a default amount of Rs. 18,15,07,200/- with the date of default being 30.04.2022. The Corporate Debtor is a Non-Banking Finance Company (NBFC).

## Facts

Database Trading Private Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Aneri Fincap Limited (Corporate Debtor). The Financial Creditor claimed that the Corporate Debtor defaulted on a payment of Rs. 18,15,07,200/-, with the default date being 30.04.2022. The Corporate Debtor is a Non-Banking Finance Company (NBFC) registered with the Reserve Bank of India (RBI). The Financial Creditor and Corporate Debtor entered into an Inter Corporate Loan Agreement dated 28.04.2017, where the Financial Creditor agreed to grant a loan of Rs. 8,76,00,000/- to the Corporate Debtor at an interest rate of 8% per year for five years, to be paid on

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## Issues and analysis

### Issue 1: Whether a financial creditor can initiate Corporate Insolvency Resolution Process (CIRP) against a …

**Ratio:** The ratio is that under the Insolvency and Bankruptcy Code, 2016, specifically Section

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**Reasoning:** The court reasoned that the Corporate Debtor, being a Non-Banking Finance Company (NBFC)

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**Interpretation:** The interpretation is that the legislative intent behind these provisions is to

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**Application:** In this specific case, the court applied the ratio and reasoning to the facts

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## Parties

- **Judges:** V. G. Bisht…; SH. PRABHAT…
- **Appellants:** Database Trading…
- **Respondents:** Aneri Fincap…
- **Advocates:** Sumit P…; Rakesh…

## Timeline

- **1990-12-07 — Incorporation of…**: Aneri Fincap Limited is…
- **1994-09-06 — Incorporation of…**: Database Trading Private Limited is…

## 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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