# In the matter of Nellai Plantations Private Limited

> NCLT judgment dated 2025-12-12. Citation: TCN-2025-NCLT-01881. The South Indian Bank Ltd filed a petition under Section 7 of the IBC, 2016, read with Rule 4…

- **Court:** NCLT
- **Order date:** 12 Dec 2025
- **Citation:** TCN-2025-NCLT-01881
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/nellai-plantations-private-limited-75f04129

## Summary

### Background

The South Indian Bank Ltd filed a petition under Section 7 of the IBC, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Nellai Plantations Private Limited, citing default on financial debt.

## Facts

The South Indian Bank Ltd, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, to initiate CIRP against M/s. Nellai Plantations Private Limited.

The Corporate Debtor, M/s. Nellai Plantations Private Limited, was sanctioned a Cash Credit Agricultural Loan (CCAL) and a Term Loan (FSL Agri Loan), both disbursed on 06.12.2017.

The loan accounts were classified as Non-Performing Assets (NPA) on 21.05.2025 due to the Corporate Debtor's default in repayment.

The total sum of Rs. 2,92,54,657.38 was due and payable by M/s. Nellai Plantations Private Limited as on 10.11.2025.

The Respondent/Corporate Debtor contended that the application was misconceived, frivolous, and incomplete under Section 7(2) of the IBC, 2016.

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC, 2016, is maintainable before the NCLT, Kochi …

**Ratio:** Section 60(1) of the IBC, 2016, states that the Adjudicating Authority shall be the

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**Reasoning:** The Respondent/Corporate Debtor has its registered office in Kottayam, and therefore, the

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**Interpretation:** The location of the assets or the mortgaged property is irrelevant for

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**Application:** The NCLT, Kochi Bench, has jurisdiction to entertain the application as the

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## Parties

- **Judges:** Shri. Vina…
- **Appellants:** The South Indian…
- **Respondents:** M/s. Nellai…
- **Other parties:** Allen B…
- **Advocates:** K N Sivasa…; Vijayakum…

## Timeline

- **01.12.2025 — Date of Inst…**: The date on which the petition was…
- **12.12.2025 — Order Deliv…**: The date on which the order was…

## 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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