# Athena Mercantile Private Limited vs. M/s. Anmol Niryat Private Limited

> NCLT judgment dated 2026-07-30. Citation: TCN-2026-NCLT-00755. Athena Mercantile Private Limited (Financial Creditor/Applicant) filed a company petition under…

- **Court:** NCLT
- **Order date:** 30 Jul 2026
- **Citation:** TCN-2026-NCLT-00755
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/athena-mercantile-private-limited-vs-ms-anmol-niryat-private-limited-pebar

## Summary

### Background

Athena Mercantile Private Limited (Financial Creditor/Applicant) filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s. Anmol Niryat Private Limited (Corporate Debtor/Respondent) seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Financial Creditor alleged a default in repayment of a financial debt amounting to Rs. 2,52,46,479/-. The Corporate Debtor had approached the Financial Creditor for a business loan of Rs. 1,35,00,000/-, and a loan agreement was executed on 15th June 2018, with interest at 10% p.a. The Financial Creditor disbursed the loan in tranches between July and August 2018. Interest was due annually by 7th May. The Financial Creditor sent multiple demand letters for interest and principal

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## Facts

A company petition (IB) No. 61/KB/2026 was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to the Adjudicating Authority) Rules, 2016.

Athena Mercantile Private Limited (Financial Creditor/Applicant) filed the petition against M/s. Anmol Niryat Private Limited (Corporate Debtor/Respondent).

The petition sought to initiate Corporate Insolvency Resolution Process (CIRP) due to a default in repayment of a financial debt amounting to Rs. 2,52,46,479/-.

The Corporate Debtor had approached the Financial Creditor for a business loan of Rs. 1,35,00,000/-.

A loan agreement was executed between the Financial Creditor and the Corporate Debtor on 15th June 2018.

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## Issues and analysis

### Issue 1: Whether Athena Mercantile Private Limited (Financial Creditor) has established the existence of a …

**Ratio:** Section 5(8) of the IBC defines 'financial debt' as a debt along with interest, disbursed

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**Reasoning:** The Financial Creditor granted a business loan of Rs. 1,35,00,000/- to the Corporate

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**Interpretation:** The transactions between the parties, involving a loan with interest, clearly

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**Application:** Based on the loan agreement, disbursement records, and the Corporate Debtor's

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## Parties

- **Judges:** BIDISHA BANERJEE,…; REKHA KANTILAL…
- **Appellants:** Athena Mercantile…
- **Respondents:** M/s. Anmol Niryat…
- **Other parties:** Committee of…; Ritesh Ag…
- **Advocates:** Zeba…; Somesh…; +1 more

## Timeline

- **2018-06-15 — Loan Agreement…**: A loan agreement for Rs. 1,35,00,000/- was executed between Athena Mercantile Private…
- **2018-07-10 — First Loan Dis…**: FC disbursed Rs.…

## 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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