# In the matter of BORIVALI HEALTHCARE PRIVATE LIMITED

> NCLT judgment dated 2026-02-19. Citation: TCN-2026-NCLT-00162. Bank of India Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 19 Feb 2026
- **Citation:** TCN-2026-NCLT-00162
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/borivali-healthcare-private-limited-21245888

## Summary

### Background

Bank of India Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Borivali Healthcare Private Limited, seeking initiation of Corporate Insolvency Resolution Process (CIRP).

## Facts

Bank of India Limited filed a petition under Section 7 of the IBC against Borivali Healthcare Private Limited.

The Corporate Debtor, Borivali Healthcare Pvt. Ltd., had CIN No. U85300MH2022PTC374757 and was incorporated on 12.12.2022.

The Corporate Debtor was sanctioned aggregate credit limits of INR 10.45 crores by Bank of India Ltd.

The Corporate Debtor failed to honor the repayment commitment, leading to the account being classified as NPA w.e.f. 29.05.2024.

The total amount in default and payable by the Corporate Debtor to the Financial Creditor as on 04.09.2025 is Rs. 10,91,58,291/-.

The date of default is stated to be 31.07.2024.

The Corporate Debtor filed an affidavit admitting the debt and default and requesting the Tribunal to admit the Corporate Debtor to insolvency.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor …

**Ratio:** Section 7 of the IBC allows a financial creditor to initiate CIRP if a default has

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**Reasoning:** The Tribunal assessed the records provided by the Financial Creditor and found that the

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**Interpretation:** The term 'default' under Section 7 includes non-payment of debt when it has

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**Application:** The Tribunal applied Section 7 and determined that the Corporate Debtor's

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Bank of India…; Bank of Ind…
- **Respondents:** Borivali Healthcar…
- **Other parties:** Manmohan…
- **Advocates:** Karan Tha…; Gaurav Ja…

## Timeline

- **2022-12-12 — Incorpor…**: The Corporate Debtor, Borivali…
- **2022-03-10 — Credit Facilities…**: Initially, the credit facilities were sanctioned in the year 2022 for an amount of Rs.…

## 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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