# In the matter of ABUTANI MERCANTILE PRIVATE LIMITED

> NCLT judgment dated 2025-12-04. Citation: TCN-2025-NCLT-01799. Eduvanz Financing Private Limited filed an application under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 4 Dec 2025
- **Citation:** TCN-2025-NCLT-01799
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-guwahati/abutani-mercantile-private-limited-9881c16b

## Summary

### Background

Eduvanz Financing Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Abutani Mercantile Private Limited due to an unresolved financial debt of Rs. 1,41,81,641/-.

## Facts

The Corporate Debtor is a Private Limited Company incorporated on 21.12.2000.

The Financial Creditor sanctioned Rs. 3,00,00,000/- to the Corporate Debtor through a Facility Agreement dated 21.01.2023.

The Corporate Debtor agreed to repay the disbursed amounts in one bullet repayment on the 91st day after the date of drawdown.

The loan accounts of the Corporate Debtor were classified as Non-Performing Asset (NPA) on 05.08.2023.

The Corporate Debtor defaulted on the repayment of dues amounting to Rs. 1,42,27,991/-.

The Financial Creditor issued a notice on 06.09.2023 informing the Corporate Debtor of the default.

The Corporate Debtor, through its letter dated 26.10.2023, admitted its liability to repay the entire amount due and requested three months' time.

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## Issues and analysis

### Issue 1: Whether the Financial Creditor has provided sufficient documentary evidence to establish the …

**Ratio:** The Hon'ble Supreme Court in Innoventive Industries Ltd. v. ICICI Bank held that once a

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**Reasoning:** The NCLT observed that there was ample documentary evidence showing the disbursal of

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**Interpretation:** The Adjudicating Authority is not required to conduct a roving enquiry into

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**Application:** The NCLT found that the Financial Creditor had clearly established the

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## Parties

- **Judges:** Rammurti Ku…
- **Appellants:** Eduvanz Financing…
- **Respondents:** Abutani Mercantile…
- **Other parties:** Arjun K…; Girish…; +1 more
- **Advocates:** Bikash S…; P. Aga…; +1 more

## Timeline

- **2000-12-21 — Incorpor…**: The Corporate Debtor was…
- **2023-01-21 — Facility Ag…**: The Financial Creditor entered into a…

## 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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