# In the matter of RADHAGOBIND COMMERCIAL LIMITED

> NCLT judgment dated 2025-10-30. Citation: TCN-2025-NCLT-01584. The case pertains to an application filed by Fort Café Food Services Pvt. Ltd., the Financial…

- **Court:** NCLT
- **Order date:** 30 Oct 2025
- **Citation:** TCN-2025-NCLT-01584
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/radhagobind-commercial-limited-116c1716

## Summary

### Background

The case pertains to an application filed by Fort Café Food Services Pvt. Ltd., the Financial Creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Radhagobind Commercial Ltd., the Corporate Debtor, due to a default of INR 1,02,60,000/-.

## Facts

Fort Café Food Services Pvt. Ltd. filed an application under Section 7 of the IBC to initiate CIRP against Radhagobind Commercial Ltd.

The total default amount claimed by the Financial Creditor is INR 1,02,60,000/-.

A loan agreement was entered into on 26.09.2023 between the parties, with the Board of Directors of Financial Creditor having sanctioned a term loan of Rs. 1.25 Crores on 26.07.2025 to the Corporate Debtor.

The Corporate Debtor admits to the disbursal of money against consideration but cites adverse financial health as the reason for its inability to meet its obligations.

…

## Issues and analysis

### Issue 1: Whether the debt in question qualifies …

**Ratio:** The essential condition of financial debt is disbursement against the consideration for

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**Reasoning:** The Tribunal relied on the Supreme Court's decisions in Pioneer Urban Land and

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**Interpretation:** The term 'financial debt' requires a disbursal of money against consideration

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**Application:** In this case, the Corporate Debtor admitted to the disbursal of money against

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## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** Fort Café Food…; Fort Café…
- **Respondents:** Radhagobind…
- **Other parties:** NAJEEB…
- **Advocates:** Akhil S…; Tanvi Luha…; +1 more

## Timeline

- **2023-09-26 — Loan Agre…**: A loan agreement was entered into between Fort Café Food Services Pvt. Ltd. and…
- **2023-09-27 — Disburse…**: An initial installment of…

## 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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