# In the matter of HEERA-IND TRADING PRIVATE LIMITED

> NCLT judgment dated 2026-02-16. Citation: TCN-2026-NCLT-00167. Union Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 16 Feb 2026
- **Citation:** TCN-2026-NCLT-00167
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/heera-ind-trading-private-limited-e7998da9

## Summary

### Background

Union Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against M/s Heera-Ind Trading Private Limited, seeking the commencement of CIRP.

## Facts

Union Bank of India, the Financial Creditor, filed an application under Section 7 of the IBC against Heera-Ind Trading Private Limited, the Corporate Debtor.

The Financial Creditor claimed a total amount of Rs. 65,56,15,020.85/- in default, comprising principal and interest.

The Corporate Debtor's account was classified as NPA on 16.04.2023.

The Financial Creditor had sanctioned a cash credit limit and a term loan to the Corporate Debtor.

The Corporate Debtor argued that its account was irregular due to the COVID-19 pandemic and that the date of default was incorrect.

The Financial Creditor submitted NeSL records of default in Form-D, which were authenticated.

…

## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The Adjudicating Authority has merely to see the records of the information utility or

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**Reasoning:** The Corporate Debtor has not disputed the factum of loan and that they were sanctioned

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**Interpretation:** The Adjudicating Authority is not required to conduct roving enquiry into

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**Application:** The application is maintainable as the Financial Creditor has provided

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Union Bank of…
- **Respondents:** Heera-Ind Trading…
- **Other parties:** Mahesh Goverdhan…
- **Advocates:** Rohit G…; Aayush Ko…; +4 more

## Timeline

- **2019-08-20 — Sanction…**: Copy of the Sanction Letter…
- **2023-04-24 — Notice under Section…**: Copy of the 13(2) notice…

## 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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