# In the matter of Digital Integratedtechnologies Private Limited

> NCLT judgment dated 2022-05-23. Citation: TCN-2022-NCLT-02678. Amour Infrastructure Pvt. Ltd., the financial creditor, filed an application under Section 7 of…

- **Court:** NCLT
- **Order date:** 23 May 2022
- **Citation:** TCN-2022-NCLT-02678
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/digital-integratedtechnologies-private-limited-9d024e81

## Summary

### Background

Amour Infrastructure Pvt. Ltd., the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, against Digital Integrated Technologies Pvt. Ltd., the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP). The financial creditor had extended a loan of Rs. 1,00,00,000/- to the corporate debtor, carrying an interest of 24% p.a., based on a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches. The corporate debtor repaid Rs. 36,00,000/- but failed to repay the remaining amount. The financial creditor also alleged that the corporate debtor, through its director Shailesh Anandani, pledged shares and issued post-dated cheques for repayment, but the cheques were

…

## Facts

Amour Infrastructure Pvt. Ltd. (Financial Creditor) extended a loan of Rs. 1,00,00,000/- to Digital Integrated Technologies Pvt. Ltd. (Corporate Debtor) at 24% p.a. interest, formalized through a Loan-cum-Share Pledge Agreement dated 20.11.2017. The loan was disbursed in five tranches between November 2017 and February 2018. The Corporate Debtor repaid Rs. 36,00,000/-. An additional loan of ₹20,00,000/- was given on 16.11.2018 carrying an interest of 24% p.a. Shailesh Anandani, director of the Corporate Debtor, provided a demand promissory note and pledged 30% of the company's shares as security. Six post-dated cheques were issued, dated between March and July 2018. The Corporate Debtor claimed that, by mutual agreement, the loan was repaid to M/s DIT Televentures Pvt.

…

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, was filed for …

**Ratio:** Section 65 of the Insolvency and Bankruptcy Code, 2016, aims to prevent malicious or

…

**Reasoning:** The NCLT observed that along with the loan transaction, a company (M/s DIT Televentures

…

**Interpretation:** Section 7 applications must be filed with the genuine intent of resolving

…

**Application:** The NCLT applied the principle of Section 65 of IBC, 2016, and found that the

…

## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Amour Infrastructu…
- **Respondents:** Digital Integrated…

## Timeline

- **2017-11-20 — Loan-cum-Share Pledge…**: Agreement between Amour Infrastructure Pvt. Ltd. and Digital Integrated Technologies Pvt.…
- **2017-11-06 — First Tranche…**: Rs. 20,00,000/- disbursed…

---

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-division-bench-court-i-chenn/digital-integratedtechnologies-private-limited-9d024e81