# Bank Of Maharashtra vs. Tirumalla India Storehouse Private Limited

> NCLT judgment dated 2026-08-11. Citation: TCN-2026-NCLT-00814. Bank of Maharashtra, a Financial Creditor, filed an application under Section 7 of the IBC,…

- **Court:** NCLT
- **Order date:** 11 Aug 2026
- **Citation:** TCN-2026-NCLT-00814
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/bank-of-maharashtra-vs-tirumalla-india-storehouse-private-limited-gzi3z

## Summary

### Background

Bank of Maharashtra, a Financial Creditor, filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited, the Corporate Guarantor, seeking initiation of CIRP. The Corporate Debtor had guaranteed credit facilities availed by the Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., from Bank of Maharashtra. The Principal Borrower defaulted, leading to the invocation of the corporate guarantee. The invocation notice was returned undelivered, prompting public notice. The Corporate Debtor failed to make payment, and its right to file a reply was closed, proceeding ex-parte.

## Facts

Bank of Maharashtra (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Tirumalla India Storehouse Private Limited (Corporate Debtor/Guarantor).

The application seeks commencement of CIRP, appointment of IRP, and declaration of moratorium.

Bank of Maharashtra is the Financial Creditor, represented by its Authorised Officer Somnath Bajrang Sasane.

Tirumalla India Storehouse Private Limited is the Corporate Debtor.

The Principal Borrower, M/s Tirumalla Agro Industries Pvt. Ltd., obtained various credit facilities from Bank of Maharashtra under consortium lending.

The Corporate Debtor, Tirumalla India Storehouse Private Limited, provided a corporate guarantee for these credit facilities.

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## Issues and analysis

### Issue 1: Whether the application filed by Bank of Maharashtra under Section 7 of the IBC, 2016, against …

**Ratio:** An application under Section 7 of the IBC, 2016, against a corporate guarantor is

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**Reasoning:** The Corporate Debtor (Guarantor) failed to appear or file a reply, leaving the Financial

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**Interpretation:** The Tribunal interpreted Section 7 of IBC in light of Supreme Court judgments

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**Application:** The Tribunal applied these principles to the present case, finding that the

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Bank of Maharashtr…
- **Respondents:** Tirumalla India…
- **Other parties:** Mangesh Vitthal…; Aryatech Platforms…
- **Advocates:** Prashant…; Gaurav Dev…

## Timeline

- **1935-09-16 — Incorporation of…**: Bank of Maharashtra was…
- **2017-07-17 — Incorporation of…**: Tirumalla India Storehouse…

## 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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