Colama Commercial Co. Ltd. (Applicant/Intervenor), a Financial Creditor, filed an Intervention Application in a Section 7 IBC petition (CP (IB)/77/MP/2026) initiated by Excellence Finance Private Limited (Financial Creditor) against Satiate Agri Limited (Corporate Debtor). Colama Commercial Co. Ltd. had its own Section 7 petition (CP (IB) No.78/MP/2025) pending against the same Corporate Debtor, filed earlier. The intervention sought to protect its alleged prior security rights, challenge subsequent charge creations by the Corporate Debtor in favor of other lenders (including Excellence Finance), and seek priority for its own Section 7 petition.
Colama Commercial Co. Ltd. (Applicant/Intervenor) filed an Intervention Application (INV. P/8(MP)2026) in a pending Section 7 petition.
The main Section 7 petition, CP (IB)/77/MP/2026, was filed by Excellence Finance Private Limited (Financial Creditor) against Satiate Agri Limited (Corporate Debtor).
Colama Commercial Co. Ltd. is a registered Non-Banking Financial Company and a Financial Creditor of Satiate Agri Limited.
Colama Commercial Co. Ltd. had previously instituted its own Section 7 proceedings (CP (IB) No.78/MP/2025) against Satiate Agri Limited on 02.12.2025, which is pending adjudication.
Colama Commercial Co. Ltd. obtained a Record of Default from NeSL on 25.11.2025 and filed an Affidavit dated 17.02.2026 and IA(I.B.C.) No.123/MP/2026 in its own proceedings.
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NCLAT decided Vekas Kumar Garg v. DMI Finance…
Alleged date of default…
Colama Commercial Co. Ltd. (Applicant/Intervenor), a Financial Creditor, filed an Intervention Application in a Section 7 IBC petition (CP (IB)/77/MP/2026) initiated by Excellence Finance Private Limited (Financial Creditor) against Satiate Agri Limited (Corporate Debtor). Colama Commercial Co. Ltd. had its own Section 7 petition (CP (IB) No.78/MP/2025) pending against the same Corporate Debtor, filed earlier. The intervention sought to protect its alleged prior security rights, challenge subsequent charge creations by the Corporate Debtor in favor of other lenders (including Excellence Finance), and seek priority for its own Section 7 petition.
Colama Commercial Co. Ltd. (Applicant/Intervenor) filed an Intervention Application (INV. P/8(MP)2026) in a pending Section 7 petition.
The main Section 7 petition, CP (IB)/77/MP/2026, was filed by Excellence Finance Private Limited (Financial Creditor) against Satiate Agri Limited (Corporate Debtor).
Colama Commercial Co. Ltd. is a registered Non-Banking Financial Company and a Financial Creditor of Satiate Agri Limited.
Colama Commercial Co. Ltd. had previously instituted its own Section 7 proceedings (CP (IB) No.78/MP/2025) against Satiate Agri Limited on 02.12.2025, which is pending adjudication.
Colama Commercial Co. Ltd. obtained a Record of Default from NeSL on 25.11.2025 and filed an Affidavit dated 17.02.2026 and IA(I.B.C.) No.123/MP/2026 in its own proceedings.
…NCLAT decided Vekas Kumar Garg v. DMI Finance…
Alleged date of default…