# In the matter of GREVEK INVESTMENTS AND FINANCE PRIVATE LIMITED

> NCLT judgment dated 2026-04-07. Citation: TCN-2026-NCLT-00295. Q West Infrastructure Private Limited filed a petition under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 7 Apr 2026
- **Citation:** TCN-2026-NCLT-00295
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/grevek-investments-and-finance-private-limited-8de2ebc8

## Summary

### Background

Q West Infrastructure Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Grevek Investments and Finance Private Limited, acting as a Corporate Guarantor for a financial debt.

## Facts

Q West Infrastructure Private Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Grevek Investments and Finance Private Limited (Corporate Debtor).

The Corporate Debtor acted as a Corporate Guarantor for a financial debt.

The Financial Creditor advanced Rs. 11,00,00,000/- to M/s. Starwort Engineers Pvt. Ltd. (Principal Borrower) under an Inter Corporate Deposit Agreement dated 10.11.2020.

The Principal Borrower defaulted on repayment, leading to the invocation of the Corporate Guarantee.

The Adjudicating Authority initially dismissed the petition due to lack of proof of service of the Demand-cum-Invocation Notice.

The NCLAT set aside the Adjudicating Authority's order and directed it to admit the petition.

…

## Issues and analysis

### Issue 1: Whether the Financial Creditor established the existence of a financial debt and default by the …

**Ratio:** The material on record established disbursement of financial debt and execution of an

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**Reasoning:** The Tribunal relied on the Inter Corporate Deposit Agreement, the Corporate Guarantee,

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**Interpretation:** The existence of a valid financial debt and default is a prerequisite for

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**Application:** The Tribunal applied the provisions of Section 7 of the IBC to the facts of the

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## Parties

- **Judges:** NILESH S…; Charanjeet Singh…
- **Appellants:** Q West Infrastruct…
- **Respondents:** Grevek Investments…
- **Other parties:** Rajendra Dattatray…
- **Advocates:** Ansh Kar…; Aniruddh…

## Timeline

- **2020-11-10 — Inter Corporate Deposit…**: Execution of Inter Corporate Deposit Agreement between the Financial Creditor and M/s.…
- **2023-02-15 — Settlement Ag…**: Parties entered into a Settlement Agreement providing for repayment of the principal…

## 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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