# In the matter of FORTUNE'S SPARSH HEALTHCARE PRIVATE LIMITED

> NCLT judgment dated 2026-01-29. Citation: TCN-2026-NCLT-00079. Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 29 Jan 2026
- **Citation:** TCN-2026-NCLT-00079
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/fortunes-sparsh-healthcare-private-limited-7c1eef94

## Summary

### Background

Canara Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Fortune's Sparsh Healthcare Pvt. Ltd. seeking commencement of CIRP, appointment of IRP, and declaration of moratorium.

## Facts

Canara Bank, the Financial Creditor, filed an application under Section 7 of the IBC against Fortune's Sparsh Healthcare Pvt. Ltd., the Corporate Debtor.

The Corporate Debtor availed credit facilities amounting to Rs. 4,90,00,000/- from the Financial Creditor.

The date of default is stated as 24.08.2022.

The account of the Corporate Debtor was classified as NPA on 22.11.2022.

The Financial Creditor is holding securities including hypothecated assets and charge on immovable properties owned by the Guarantors.

The Corporate Debtor passed a board resolution on 05.03.2022 authorizing the availment of credit facilities.

The Financial Creditor issued a demand notice dated 7th December 2022 to the Corporate Debtor and Guarantors.

…

## Issues and analysis

### Issue 1: Whether the application filed by the Financial …

**Ratio:** The Adjudicating Authority has the power to admit an application under Section 7 of the

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**Reasoning:** The Financial Creditor has provided sufficient evidence of the debt and default,

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**Interpretation:** Section 7 of the IBC allows a Financial Creditor to initiate CIRP against a

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**Application:** The Adjudicating Authority found that the Financial Creditor had met the

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Canara…
- **Respondents:** Fortune's Sparsh…
- **Other parties:** Birendra Kumar…
- **Advocates:** Rohan Ag…; Sabeena M…; +2 more

## Timeline

- **2022-03-05 — Board Reso…**: Board resolution passed by Corporate Debtor…
- **2022-03-24 — Sanction…**: Financial Creditor sanctioned credit…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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