# In the matter of Borivali Healthcare Private Limited

> NCLT judgment dated 2026-02-19. Citation: TCN-2026-NCLT-00177. 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-00177
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/borivali-healthcare-private-limited-e83c1998

## 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 the Corporate Insolvency Resolution Process (CIRP). The applicant claimed that the corporate debtor had defaulted on its financial obligations.

## 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 date of default is stated to be 31.07.2024.

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 Corporate Debtor has not denied the existence of debt and default.

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

## Issues and analysis

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

**Ratio:** Section 7 of the IBC, 2016, allows a financial creditor to initiate CIRP against a

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**Reasoning:** The Adjudicating Authority examined the application and the documents submitted by the

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**Interpretation:** The application met the requirements of Section 7 of the IBC, 2016, and the

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**Application:** The application was deemed maintainable as it complied with the statutory

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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

- **2024-02-29 — Date of Default (as…**: The date of default as mentioned in…
- **2024-05-29 — Date of…**: The account has been classified as NPA w.e.f. 29.05.2024 in accordance with guidelines of…

## 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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