# Opus Software vs. Krishna Kanhaiya Milk

> NCLT judgment dated 5 Dec 2025. Citation: TCN-2025-NCLT-01795. Opus Software Solutions Private Limited, the Financial Creditor (FC), filed an application…

- **Court:** NCLT
- **Order date:** 5 Dec 2025
- **Citation:** TCN-2025-NCLT-01795
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/opus-software-vs-krishna-kanhaiya-milk-31b8c009

## Summary

### Background

Opus Software Solutions Private Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (IBC Rules), for initiating Corporate Insolvency Resolution Process (CIRP) in respect of Krishna Kanhaiya Milk Processing Private Limited, the Corporate Debtor (CD).

## Facts

Opus Software Solutions Private Limited filed C.P. (IB) No.465/MB/2025 on 28.02.2025 under Section 7 of the IBC.

The application was filed for initiating CIRP against Krishna Kanhaiya Milk Processing Private Limited.

The amount claimed to be in default as on 25.10.2023 is Rs.3,94,60,195/-.

The date of default as per Part IV of the Application is 25.10.2023.

The Corporate Debtor approached the Applicant seeking a loan of Rs.3,00,00,000/- by way of Inter-Corporate Deposit (ICD).

An Inter-Corporate Loan Agreement was executed on 22.07.2020, and Rs.3,00,00,000/- was disbursed on 28.07.2020.

Three separate Guarantee Agreements were executed on 22.07.2020 by Mr. Pravin Laxman Lokhande, Mr. Sharad Jagtap Sidram Shirke, and Mr. Rahul Kundalikar.

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## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** Section 7 of the IBC allows a financial creditor to initiate CIRP against a corporate

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**Reasoning:** The Applicant, being a financial creditor, has filed the application under Section 7 of

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**Interpretation:** Section 7 of the IBC is interpreted to allow financial creditors to initiate

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**Application:** The application is maintainable as the Applicant is a financial creditor and

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Opus Software…
- **Respondents:** Krishna Kanhaiya…
- **Other parties:** Insolvency and…; Corporate…; +4 more

## Timeline

- **28.02.2025 — Application…**: C.P. (IB) No.465/MB/2025 filed by Opus…
- **22.07.2020 — ICD Agre…**: Inter-Corporate Loan Agreement executed between Opus Software Solutions Private Limited…

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