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

> NCLT judgment dated 2026-09-24. Citation: TCN-2026-NCLT-01053. Tribute Trading and Finance Limited (Financial Creditor) disbursed an Inter-Corporate Deposit…

- **Court:** NCLT
- **Order date:** 24 Sept 2026
- **Citation:** TCN-2026-NCLT-01053
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/ts-party-tribute-trading-a-n-d-finance-limited-vs-florin-realtors-private-limite-l54jz

## Summary

### Background

Tribute Trading and Finance Limited (Financial Creditor) disbursed an Inter-Corporate Deposit (ICD) of Rs. 1,45,00,000/- to Florin Realtors Private Limited (Corporate Debtor) with 9% interest. The Corporate Debtor made partial interest payments but subsequently defaulted on the principal and accrued interest. The Financial Creditor issued a demand notice, and upon non-payment, filed a Company Petition under Section 7 of the IBC. A settlement agreement was reached, leading to the withdrawal of the petition, but the Corporate Debtor again defaulted on the settlement terms. The Financial Creditor then filed a Restoration Application, which was allowed, reviving the original 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 CIRP against the Corporate Debtor due to default in repayment of a financial debt (Inter-Corporate Deposit).

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

The Corporate Debtor made partial payments of Rs. 15,18,030/- towards interest for the Financial Years 2013-14 and 2014-15, but subsequently defaulted on further payments.

…

## Issues and analysis

### Issue 1: Whether a "financial debt" as defined under Section 5(8) of the Code is owed by the …

**Ratio:** Money advanced against payment of interest, where there is a disbursement against the

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**Reasoning:** The record shows that Rs. 1,45,00,000/- was disbursed to the Corporate Debtor in four

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**Interpretation:** Section 5(8) of the IBC broadly defines 'financial debt' to include various

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**Application:** The Inter-Corporate Deposit (ICD) provided by Tribute Trading and Finance

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## Parties

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

## Timeline

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

## 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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