# In the matter of SHREE BADRI KEDAR UDYOG PRIVATE LIMITED

> NCLT judgment dated 2026-02-05. Citation: TCN-2026-NCLT-00112. Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Feb 2026
- **Citation:** TCN-2026-NCLT-00112
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/shree-badri-kedar-udyog-private-limited-94a156ca

## Summary

### Background

Bank of India Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Shree Badri Kedar Udyog Private Limited, the Corporate Debtor, for an alleged default.

## Facts

Bank of India Limited sanctioned a cash credit facility of ₹15,00,00,000/- to Shree Badri Kedar Udyog Private Limited.

The Corporate Debtor failed to repay as per the schedule of repayment, and the loan account was classified as Non-Performing Asset (NPA) on 13th April, 2018.

The Financial Creditor recalled the loan amount and demanded a sum of ₹ 15,22,75,197.95/- vide notice dated 19th May, 2018.

The Corporate Debtor offered a One Time Settlement (OTS) of the outstanding dues vide its letter dated 21st March, 2025, acknowledging its liability towards repayment.

The total debt due is ₹ 23,56,27,730.46/- as on 28th July, 2025.

The Corporate Debtor was set ex parte on 27th November, 2025 due to non-appearance and failure to file a reply affidavit.

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## Issues and analysis

### Issue 1: Whether the application under Section 7 of the …

**Ratio:** The application is maintainable if there is a

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**Reasoning:** The Adjudicating Authority examined the documents and contentions of the Financial

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**Interpretation:** The existence of a financial debt owed by the Corporate Debtor to the Financial

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**Application:** The application was admitted for initiating the Corporate Insolvency Resolution

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## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** Bank of India…
- **Respondents:** Shree Badri Kedar…
- **Other parties:** Rachna Jhunjhunwal…
- **Advocates:** Sanjana…

## Timeline

- **2018-04-13 — NPA Decla…**: Loan account classified as…
- **2018-05-19 — Recall N…**: Financial Creditor recalled the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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