# In the matter of PATLIPUTRA ACADEMY FOR EDUCATION AND TRAINING PRIVATE LIMITED

> NCLT judgment dated 2026-03-20. Citation: TCN-2026-NCLT-00252. Patliputra Academy for Education and Training Private Limited filed an application under…

- **Court:** NCLT
- **Order date:** 20 Mar 2026
- **Citation:** TCN-2026-NCLT-00252
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/patliputra-academy-for-education-and-training-private-limited-4c58ca84

## Summary

### Background

Patliputra Academy for Education and Training Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against itself.

## Facts

Patliputra Academy for Education and Training Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Applicant faced financial stress due to expansion, increased competition, and regulatory changes.

The Corporate Applicant defaulted on financial and operational liabilities, with a total default amount of approximately ₹4,36,37,368/-.

The Corporate Applicant has one financial creditor, namely Mr. Krishna Singh, who has issued a demand notice for recovery of an amount of ₹1,08,91,637/-.

The Board of Directors and shareholders of the Corporate Applicant authorized the filing of the present application.

The Corporate Applicant proposed the name of Mr. Binod Kumar Singh as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, filed by …

**Ratio:** The Petition is free from defects and complete in all aspects as required under the law.

…

**Reasoning:** The Adjudicating Authority considered the documents and arguments presented by the

…

**Interpretation:** Section 10 allows a corporate debtor to initiate CIRP against itself if it is

…

**Application:** The Adjudicating Authority applied Section 10 and admitted the application,

…

## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Respondents:** Patliputra…
- **Other parties:** Krishna…; Binod Kumar…
- **Advocates:** Arvind Kr.…; Soumya…

## Timeline

- **2021-09-22 — Incorporati…**: The Corporate Applicant…
- **2025-03-05 — Special Resolu…**: Shareholders of the Corporate Applicant approved the filing of the present application by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/patliputra-academy-for-education-and-training-private-limited-4c58ca84