# Tanay Securities & Services Private Limited vs. Organic World Private Limited

> NCLT judgment dated 2026-08-03. Citation: TCN-2026-NCLT-00782. Tanay Securities & Services Private Limited (Financial Creditor) filed a Company Petition under…

- **Court:** NCLT
- **Order date:** 3 Aug 2026
- **Citation:** TCN-2026-NCLT-00782
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/tanay-securities-services-private-limited-vs-organic-world-private-limited-r3q4k

## Summary

### Background

Tanay Securities & Services Private Limited (Financial Creditor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Organic World Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's default in repaying an unsecured loan of Rs. 2,24,97,222/-, inclusive of interest, which was disbursed based on an oral understanding and acknowledged in the Corporate Debtor's financial records.

## Facts

Tanay Securities & Services Private Limited (Financial Creditor) filed a Company Petition under Section 7 of the IBC against Organic World Private Limited (Corporate Debtor).

The Financial Creditor sought to initiate CIRP due to a default in repayment of Rs. 2,24,97,222/-, inclusive of interest.

An unsecured loan of Rs. 2,00,00,000/- was disbursed on 16.09.2020 at an interest rate of 2% per annum, based on an oral understanding.

Further sums of Rs. 49,00,000/- and Rs. 11,00,000/- were disbursed on 15.01.2021 and 16.01.2021, respectively, at the same interest rate.

The total principal disbursed amounted to Rs. 2,60,00,000/-.

The Corporate Debtor repaid Rs. 45,00,000/- on 29.01.2021.

…

## Issues and analysis

### Issue 1: Whether the amount disbursed by the Financial Creditor to the Corporate Debtor constitutes …

**Ratio:** An amount disbursed against consideration for the time value of money, evidenced by

…

**Reasoning:** The Corporate Debtor did not dispute the disbursement of principal sums or partial

…

**Interpretation:** Section 5(8)(f) of the IBC broadly defines 'financial debt' to include

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**Application:** Given the clear evidence of disbursement, interest accrual, TDS deposits, and

…

## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Tanay Securities…
- **Respondents:** Organic World…
- **Other parties:** Yash Mi…; Akansha M…; +7 more
- **Advocates:** Kunal T…; Sinha Shrey…; +7 more

## Timeline

- **2011-01-03 — Financial Creditor…**: Tanay Securities & Services Private Limited (Financial Creditor) was incorporated under…
- **2020-03-19 — Corporate Debtor…**: Organic World Private Limited…

## 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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