# In the matter of MATA RANI INFRASTRUCTURE PRIVATE LIMITED

> NCLT judgment dated 2025-11-13. Citation: TCN-2025-NCLT-01869. Baba Iron Industries Private Limited, a financial creditor, filed an application under Section…

- **Court:** NCLT
- **Order date:** 13 Nov 2025
- **Citation:** TCN-2025-NCLT-01869
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/mata-rani-infrastructure-private-limited-a8075643

## Summary

### Background

Baba Iron Industries Private Limited, 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, due to default in repayment of a loan.

## Facts

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 interest for the quarter ended September 30, 2024, became due on October 7, 2024, but was not serviced.

The Financial Creditor issued letters in December 2024 and February 2025 for payment of interest with penal interest.

The Corporate Debtor failed to repay the interest despite reminders.

The total outstanding amount against the Corporate Debtor was Rs. 1,48,58,356/- as of the date of default, which includes principal, interest, and penal interest.

The date of default was October 7, 2024.

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## Issues and analysis

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

**Ratio:** An application under Section 7 of the IBC Code 2016 is acceptable so long as the debt is

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**Reasoning:** The Adjudicating Authority considered Section 4 of the IBC Code, which stipulates that

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**Interpretation:** The provision requires a minimum

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**Application:** The Adjudicating Authority found that the default exceeded one crore rupees,

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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 Baba Iron Industries Private Limited and Matarani…
- **2024-07-15 — First Loan Dis…**: Rs. 60,00,000/- disbursed…

## 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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