# In the matter of ALCOB INDIA PRIVATE LIMITED

> NCLT judgment dated 2026-02-23. Citation: TCN-2026-NCLT-00170. M/s. Alcob India Private Limited filed a Company Petition under Section 10 of the Insolvency…

- **Court:** NCLT
- **Order date:** 23 Feb 2026
- **Citation:** TCN-2026-NCLT-00170
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/alcob-india-private-limited-5f3b633d

## Summary

### Background

M/s. Alcob India Private Limited filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The application was preferred due to financial stress and inability to repay debts.

## Facts

M/s. Alcob India Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP.

The Corporate Applicant's loan account was classified as a Non-Performing Asset (NPA) by the Bank of Maharashtra on 31.03.2021.

The total debt amounting to default is Rs. 65,45,53,190/-, comprising Rs. 48,05,55,333/- as financial debt and Rs. 17,06,33,970/- as operational debt.

The Board of Directors authorized Mr. Badrinarayan Rajagopalan and Mrs. Deepali Badrinarayan to file the application under the Code.

Shri. Rajesh S. Shah was proposed as the Interim Resolution Professional (IRP) and submitted his consent in Form 2.

The Adjudicating Authority admitted the petition and ordered the initiation of CIRP against the Corporate Applicant.

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## Issues and analysis

### Issue 1: Whether the Corporate Applicant is in default of a debt due and payable as per Section 4(1) of the …

**Ratio:** The Corporate Applicant is in default of a debt due and payable, and the default is in

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**Reasoning:** The Corporate Applicant's financial statements and other documents demonstrate that its

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**Interpretation:** Section 4(1) of the IBC specifies the minimum amount of default required for

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**Application:** The Adjudicating Authority applied Section 4(1) of the IBC and found that the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Respondents:** M/s. Alcob India…
- **Other parties:** Badrinarayan…; Deepali Badrinaray…; +1 more
- **Advocates:** Surekha…; Avinash R.…; +1 more

## Timeline

- **2004-07-26 — Incorpor…**: The Corporate Applicant was…
- **2021-03-31 — NPA Classif…**: The loan account of the Corporate Applicant was classified as a Non-Performing Asset…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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