# Abhishek Agarwal vs. Shree Dwarkadhish Udyog Private Limited

> NCLT judgment dated 9 Apr 2026. Citation: TCN-2026-NCLT-00447. The application was filed by Abhishek Agarwal (Financial Creditor/Applicant) against Shree…

- **Court:** NCLT
- **Order date:** 9 Apr 2026
- **Citation:** TCN-2026-NCLT-00447
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/abhishek-agarwal-vs-shree-dwarkadhish-udyog-private-limited-knqcu

## Summary

### Background

The application was filed by Abhishek Agarwal (Financial Creditor/Applicant) against Shree Dwarkadhish Udyog Private Limited (Corporate Debtor/Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had sought urgent financial assistance from the Applicant in May 2017 to keep its business afloat and repay existing creditors. A total sum of Rs. 81,69,039/- was disbursed by the Applicant between May 22, 2017, and February 28, 2018. An Unsecured Loan Agreement was executed on April 1, 2018, formally acknowledging these prior disbursements, specifying an interest rate of 9% per annum, and stipulating repayment within a five-year period, i.e., on or before April 1, 2023. The Corporate Debtor acknowledged a liability of Rs. 1,30,64,919/-

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## Facts

Abhishek Agarwal (Financial Creditor/Applicant) filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Dwarkadhish Udyog Private Limited (Corporate Debtor/Respondent).

The Corporate Debtor sought urgent financial assistance from the Applicant in May 2017.

A total sum of Rs. 81,69,039/- was disbursed by the Financial Creditor to the Corporate Debtor between May 22, 2017, and February 28, 2018.

An Unsecured Loan Agreement was executed on April 1, 2018, which acknowledged the prior disbursements, stipulated a 9% interest rate, and a five-year repayment period expiring on April 1, 2023.

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## Issues and analysis

### Issue 1: Whether the disbursements made by the Applicant to the Corporate Debtor qualify as "financial …

**Ratio:** A debt qualifies as 'financial debt' if there is a disbursement of money against

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**Reasoning:** The Unsecured Loan Agreement dated April 1, 2018, clearly records a 9% interest rate per

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**Interpretation:** The court relied on the definition of "financial debt" under Section

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**Application:** The presence of interest and a fixed repayment period in the loan agreement,

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## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** Abhishek A…
- **Respondents:** Shree Dwarkadhish…
- **Other parties:** Insolvency and…; Financial…; +4 more

## Timeline

- **2017-05-01 — Financial Assistance…**: Corporate Debtor approached the Applicant…
- **2017-05-22 — First Disbu…**: First tranche of financial assistance was disbursed by the Financial Creditor to the…

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