# M/s. Indusind Bank vs. M/s. BBR Green Fields Pvt Ltd.

> NCLT judgment dated 2026-09-04. Citation: TCN-2026-NCLT-00938. M/s. Indusind Bank, a financial creditor, filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 4 Sept 2026
- **Citation:** TCN-2026-NCLT-00938
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/ms-indusind-bank-vs-ms-bbr-green-fields-pvt-ltd-7dw7n

## Summary

### Background

M/s. Indusind Bank, a financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s. BBR Green Fields Pvt Ltd., the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The application was based on the corporate debtor's default in repaying aggregate term loan facilities of Rs. 150 Crores, which were secured by various documents and a personal guarantee. The loan accounts were classified as Non-Performing Assets (NPA) on 29.10.2023.

## Facts

The present application was filed to initiate the corporate insolvency resolution process (CIRP) against M/s. BBR Green Fields Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016.

M/s. Indusind Bank (Applicant) sanctioned aggregate term loan facilities of Rs. 150,00,00,000/- to the Corporate Debtor under two separate loan agreements.

Term Loan-I, for Rs. 25.00 Crores, was sanctioned on 27.09.2019, with Rs. 23.00 Crores disbursed on 30.09.2019.

Term Loan-II, for Rs. 125.00 Crores, was sanctioned on 21.12.2019, with Rs. 65.00 Crores disbursed on 23.12.2019 and Rs. 60.00 Crores on 25.02.2020.

…

## Issues and analysis

### Issue 1: Whether the present application to initiate the Corporate Insolvency Resolution Process against …

**Ratio:** An application under Section 7 of the IBC must be admitted if the Adjudicating Authority

…

**Reasoning:** The Adjudicating Authority found that the Applicant established the existence of

…

**Interpretation:** The NCLT's role at the admission stage of a Section 7 application is limited to

…

**Application:** Based on the unrebutted evidence and the Corporate Debtor's non-appearance, the

…

## Parties

- **Judges:** SHRI. RAJEEV…; SHRI. SANJA…
- **Appellants:** M/s. Indusi…
- **Respondents:** M/s. BBR Green…
- **Other parties:** Directors (of…; Sudhir Gon…; +2 more
- **Advocates:** Shabbeer…; V. An…; +4 more

## Timeline

- **2019-09-27 — Term Loan-I S…**: Sanction Letter and Term Loan Agreement for…
- **2019-09-30 — Term Loan-I Dis…**: Rs. 23.00 Crores…

## 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)

---

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-hyderabad/ms-indusind-bank-vs-ms-bbr-green-fields-pvt-ltd-7dw7n