# Tribute Trading and Finance Limited vs. Florin Realtors Private Limited

> NCLT judgment dated 2026-09-24. Citation: TCN-2026-NCLT-01037. Tribute Trading and Finance Limited (Financial Creditor) filed a Section 7 application under…

- **Court:** NCLT
- **Order date:** 24 Sept 2026
- **Citation:** TCN-2026-NCLT-01037
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/tribute-trading-and-finance-limited-vs-florin-realtors-private-limited-hudcc

## Summary

### Background

Tribute Trading and Finance Limited (Financial Creditor) filed a Section 7 application under the Insolvency and Bankruptcy Code, 2016, against Florin Realtors Private Limited (Corporate Debtor) for default in repaying an Inter-Corporate Deposit (ICD) of Rs. 1,45,00,000/-. The Corporate Debtor made partial interest payments but subsequently defaulted on the principal and remaining interest. A settlement agreement was reached, but the Corporate Debtor again breached its terms, leading to the revival of the Company Petition.

## Facts

Tribute Trading and Finance Limited, the Financial Creditor, was incorporated on December 4, 1986.

Florin Realtors Private Limited, the Corporate Debtor, was incorporated on June 27, 2012.

The Financial Creditor filed a Company Petition under Section 7 of the IBC, 2016, seeking initiation of CIRP against the Corporate Debtor for default in repayment of an Inter-Corporate Deposit (ICD).

The Financial Creditor disbursed a sum of Rs. 1,45,00,000/- to the Corporate Debtor in four tranches.

The Corporate Debtor initially made part-payments towards interest accrued for FY 2013-14 and 2014-15, aggregating to Rs. 15,18,030/-, but thereafter defaulted on further payments.

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## Issues and analysis

### Issue 1: Whether a "financial debt" as defined under Section 5(8) of the Insolvency and Bankruptcy …

**Ratio:** A debt disbursed against the consideration for the time value of money, such as money

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**Reasoning:** The Financial Creditor disbursed Rs. 1,45,00,000/- as an Inter-Corporate Deposit (ICD) to

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**Interpretation:** Section 5(8) of the IBC provides an inclusive definition of 'financial debt',

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**Application:** Given that Tribute Trading and Finance Limited provided an ICD with interest to

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## Parties

- **Judges:** BIDISHA BA…; Rekha Kantilal…
- **Appellants:** Tribute Trading…
- **Respondents:** Florin Realtors…
- **Other parties:** Committee of…; Rakesh Kumar…
- **Advocates:** Shaunak…; Joyshree…; +1 more

## Timeline

- **1986-12-04 — Incorporation of…**: Tribute Trading and Finance…
- **2012-06-27 — Incorporation of…**: Florin Realtors Private…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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