# In the matter of A N Enterprises Infrastructure Services Private Limited

> NCLT judgment dated 2025-07-22. Citation: TCN-2025-NCLT-00782. DSM Projects Private Limited filed an application under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 22 Jul 2025
- **Citation:** TCN-2025-NCLT-00782
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/a-n-enterprises-infrastructure-services-private-limited-ba48eb9b

## Summary

### Background

DSM Projects Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against A N Enterprises Infrastructure Services Private Limited, seeking commencement of Corporate Insolvency Resolution Process (CIRP), appointment of Interim Resolution Professional (IRP), and declaration of moratorium. The claimed default amount is INR 60,19,50,000/- with outstanding interest of INR 38,87,32,822/-, with the date of default being 13th March, 2022.

## Facts

DSM Projects Private Limited filed an application under Section 7 of the IBC against A N Enterprises Infrastructure Services Private Limited.

The application was filed on 16.12.2024.

The amount claimed to be in default is INR 60,19,50,000/- along with outstanding interest of INR 38,87,32,822/-.

The date of default is stated to be 13th March, 2022.

The Applicant proposed the name of Mr. Pradeep Kumar Chakravarty to be appointed as the IRP.

The Corporate Debtor requested a loan of Rs. 63 crores from the Financial Creditor on 01st September, 2017.

A Loan Agreement was executed on 06.09.2017 for Rs. 63 crores.

The Corporate Debtor repaid a sum of INR 4.50 crores to the Financial Creditor in 2018.

The Corporate Debtor acknowledged the debt in letters dated 10.04.2018 and 02.08.2024.

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## Issues and analysis

### Issue 1: Whether the existence of an arbitration clause bars …

**Ratio:** The mere existence of an arbitration clause in the loan agreement does not bar the

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**Reasoning:** The Tribunal relied on the Hon'ble Supreme Court's judgment in Indus Biotech Private

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**Interpretation:** The existence of an arbitration clause does not preclude the initiation of CIRP

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**Application:** The Tribunal found that the existence of an arbitration clause did not prevent

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** DSM Projects…
- **Respondents:** A N Enterprises…
- **Other parties:** Pradeep Kumar…
- **Advocates:** Yash Mo…; Vikramaditya…; +1 more

## Timeline

- **2024-12-16 — Application…**: Application filed by DSM Projects Private…
- **2022-03-13 — Date of D…**: Date of default as…

## 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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