# In the matter of BIG Flicks Private Limited

> NCLT judgment dated 2025-09-25. Citation: TCN-2025-NCLT-01428. Reliance Unicorn Enterprises Private Limited filed a petition under Section 7 of the Insolvency…

- **Court:** NCLT
- **Order date:** 25 Sept 2025
- **Citation:** TCN-2025-NCLT-01428
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/big-flicks-private-limited-48df7759

## Summary

### Background

Reliance Unicorn Enterprises Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Big Flicks Private Limited, seeking commencement of CIRP, appointment of IRP, and declaration of moratorium.

## Facts

Reliance Unicorn Enterprises Private Limited filed a petition against Big Flicks Private Limited under Section 7 of the IBC.

The amount claimed to be in default is Rs. 19,02,14,743/- including interest at 13% per annum.

The date of default stated by the Petitioner is 27.11.2018.

The Corporate Debtor availed a loan for working capital facility from the Financial Creditor pursuant to an Inter Corporate Deposit Facility Agreement dated 27.09.2017, for Rs. 1,45,64,00,000/- at 13% interest.

The Corporate Debtor made repayments totaling Rs. 1,45,19,45,524/-.

The Corporate Debtor confirmed the amounts due and payable in a letter dated 07.10.2021.

The Financial Creditor issued loan recall notices dated 30.09.2023, 30.11.2023, and 31.01.2024.

…

## Issues and analysis

### Issue 1: Whether the petition is …

**Ratio:** Acknowledgement of debt under Section 18 of the Limitation Act, 1963, within three years

…

**Reasoning:** The Corporate Debtor's letter dated 07.10.2021 and the audited balance sheet as on

…

**Interpretation:** The Tribunal interpreted the acknowledgement of debt as extending the

…

**Application:** The Tribunal held that the petition filed on 12.09.2024 is within limitation

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Reliance Unicorn…
- **Respondents:** Big Flicks…
- **Other parties:** NPV Insolvency…
- **Advocates:** Siddha Pa…; Neel La…

## Timeline

- **2017-09-27 — Inter Corporate Deposit…**: Inter Corporate Deposit Facility Agreement was executed between the Financial Creditor…
- **2018-11-27 — Date of D…**: The date of default…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/big-flicks-private-limited-48df7759