# In the matter of MATA RANI INFRASTRUCTURE PRIVATE LIMITED

> NCLT judgment dated 2025-11-13. Citation: TCN-2025-NCLT-01863. Baba Iron Industries Private Limited, claiming to be a Financial Creditor, filed an application…

- **Court:** NCLT
- **Order date:** 13 Nov 2025
- **Citation:** TCN-2025-NCLT-01863
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/mata-rani-infrastructure-private-limited-9305b9ba

## Summary

### Background

Baba Iron Industries Private Limited, claiming to be a Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Matarani Infrastructure Pvt. Ltd., the Corporate Debtor.

## Facts

Baba Iron Industries Private Limited claimed to be a Financial Creditor, being a registered Non-Banking Finance Company.

Baba Iron Industries Private Limited granted a business loan of Rs. 1,25,00,000/- to Matarani Infrastructure Pvt. Ltd. at an interest rate of 15% per annum.

The loan was disbursed in installments during July 2024.

The Corporate Debtor executed a loan agreement dated 9th July 2024.

The Corporate Debtor failed to service the interest payment for the quarter ended 30th September 2024, which became due on 7th October 2024.

The Financial Creditor issued letters dated 30th December 2024 and 20th February 2025 for payment of interest with penal interest.

…

## Issues and analysis

### Issue 1: Whether the application under Section …

**Ratio:** Yes, the application is maintainable if the debt is proved to be due, a default has

…

**Reasoning:** Section 4 of the IBC Code stipulates that the minimum default amount for triggering CIRP

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**Interpretation:** The Adjudicating Authority interpreted Section 4 of the IBC Code to mean that

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**Application:** The Adjudicating Authority applied this interpretation to the facts of the

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Baba Iron…
- **Respondents:** Matarani Infrastru…
- **Other parties:** Jaishree…
- **Advocates:** Minakshi…; Sohini…; +2 more

## Timeline

- **2024-07-09 — Loan Agre…**: Loan agreement executed between the…
- **2024-07-15 — First Loan In…**: First instalment of loan amount…

## 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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