# In the matter of BAGH BAHAR APPLIANCES PRIVATE LIMITED

> NCLT judgment dated 2026-03-12. Citation: TCN-2026-NCLT-00309. HDFC Bank Limited filed a Company Petition (C.P. (IB) No.602/MB/2025) on 17.05.2025 under…

- **Court:** NCLT
- **Order date:** 12 Mar 2026
- **Citation:** TCN-2026-NCLT-00309
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/bagh-bahar-appliances-private-limited-24d7b722

## Summary

### Background

HDFC Bank Limited filed a Company Petition (C.P. (IB) No.602/MB/2025) on 17.05.2025 under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Bagh Bahar Appliances Private Limited.

## Facts

HDFC Bank Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Bagh Bahar Appliances Private Limited.

The total amount claimed to be in default was Rs.64,95,69,884.10/- as of 30.04.2025.

The date of default was 28.12.2023.

The Financial Creditor sanctioned and disbursed various credit facilities to the Corporate Debtor, including Cash Credit Facility, Working Capital Demand Loan, Short Term Loan, and Guaranteed Emergency Credit Line.

The Corporate Debtor executed various financing and security documents in favor of the Financial Creditor.

The Financial Creditor issued a Demand Notice dated 04.06.2024 under Section 13(2) of the SARFAESI Act, 2002, followed by a Recall Notice dated 14.06.2024.

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## Issues and analysis

### Issue 1: Whether the Financial Creditor has established the existence of a financial debt and default in …

**Ratio:** The Adjudicating Authority is required to examine whether a financial debt exists and

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**Reasoning:** The Financial Creditor provided sanction documents, certified bank statements evidencing

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**Interpretation:** The Adjudicating Authority interpreted the documentary evidence as sufficient

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**Application:** The Adjudicating Authority decided the issue in favor of the Financial Creditor

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## Parties

- **Judges:** SANJIV…; ASHISH…
- **Appellants:** HDFC Bank L…
- **Respondents:** Bagh Bahar…
- **Other parties:** Rajeev Man…
- **Advocates:** Sameer P…; S. Kham…

## Timeline

- **17.05.2025 — Filing of App…**: HDFC Bank Limited filed the Company Petition (C.P. (IB) No.602/MB/2025) under Section 7…
- **22.11.2023 — Board Reso…**: Board Resolution dated 22.11.2023, for initiating Corporate Insolvency Resolution Process…

## 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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