# In the matter of Repute Food Pvt. Ltd.

> NCLT judgment dated 2025-01-07. Citation: TCN-2025-NCLT-00662. The Central Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 7 Jan 2025
- **Citation:** TCN-2025-NCLT-00662
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/repute-food-pvt-ltd-58b3f70a

## Summary

### Background

The Central Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, against Repute Foods Pvt. Ltd. The application seeks initiation of the Corporate Insolvency Resolution Process (CIRP) and appointment of an Interim Resolution Professional (IRP) due to the corporate debtor's default in payment of outstanding dues. The bank claimed a default of Rs. 20,46,31,392/- including interest, with the date of default stated as 11.08.2023. The applicant has provided various documents, including sanction letters, DP notes, letters of waiver, mortgage deeds, and board resolutions, to support its claim. The matter was listed multiple times,

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## Facts

Central Bank of India, the applicant and financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Repute Foods Pvt. Ltd., the respondent and corporate debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The applicant claimed a default of Rs. 20,46,31,392/- including interest, with the date of default being 11.08.2023. The applicant submitted various documents, including sanction letters, DP notes, letters of waiver, mortgage deeds, and board resolutions, to support its claim. The NeSL record of default (Form-D) was in an authenticated stage. The respondent failed to file a reply or provide proof of payment of costs imposed by the tribunal. The cash-credit facilities were first disbursed

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## Issues and analysis

### Issue 1: Whether the Applicant has proved that there is debt which is in default and amount claimed is more …

**Ratio:** The Adjudicating Authority must be satisfied that a default has occurred based on records

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**Reasoning:** The tribunal considered the documents submitted by the applicant, including the NeSL

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**Interpretation:** The interpretation of Section 7 of the IBC requires the Adjudicating Authority

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**Application:** The Applicant has proved that there is debt which is in default and amount

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Central Bank of…
- **Respondents:** Repute Foods Pvt.…

## Timeline

- **2023-08-11 — Date of D…**: The date of default as…
- **2024-08-14 — Application…**: The present petition…

## 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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