# In the matter of INDITRADE BUSINESS CONSULTANTS LIMITED

> NCLT judgment dated 2025-10-10. Citation: TCN-2025-NCLT-01458. Kotak Mahindra Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Oct 2025
- **Citation:** TCN-2025-NCLT-01458
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/inditrade-business-consultants-limited-7fbdad26

## Summary

### Background

Kotak Mahindra Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Inditrade Business Consultants Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP). The petition was based on a default in repayment of loan facilities.

## Facts

Kotak Mahindra Bank Limited extended loan facilities to Inditrade Business Consultants Limited.

The Corporate Debtor defaulted on repayment of the loan facilities.

The Financial Creditor classified the account as a Non-Performing Asset (NPA) on 18.02.2024.

Pledged commodities (cotton bales) were destroyed in a fire on 14.05.2023.

The Respondent filed Commercial Suit No. 48 of 2024 before the City Civil Court at Mumbai, seeking injunctive relief and damages.

The Financial Creditor filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The total amount claimed to be in default is Rs. 6,67,07,194.21/- as on 02.06.2025.

The Corporate Debtor was incorporated on 27.08.2008.

## Issues and analysis

### Issue 1: Whether a financial debt …

**Ratio:** The documents filed on record, including the Master Facility Agreement, Sanction Letters,

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**Reasoning:** The NCLT relied on documentary evidence and the Corporate Debtor's acknowledgment of the

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**Interpretation:** The existence of a financial debt and default are prerequisites for admitting a

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**Application:** The NCLT applied the legal principle that if a financial debt and default are

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## Parties

- **Judges:** Shri. Vina…; Madhu S…
- **Appellants:** Kotak Mahindra…
- **Respondents:** Inditrade…
- **Other parties:** Vibin Vi…; Invent Asset…; +5 more
- **Advocates:** Akshay…; Nakul G…

## Timeline

- **14.08.2025 — Date of Inst…**: The date on which the…
- **10.10.2025 — Order Deliv…**: The date on which the…

## 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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