# In the matter of HEM Infrastructure and Property Developers Private Limited

> NCLT judgment dated 2025-07-14. Citation: TCN-2025-NCLT-00794. JM Financial Credit Solutions Ltd. filed a petition under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 14 Jul 2025
- **Citation:** TCN-2025-NCLT-00794
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/hem-infrastructure-and-property-developers-private-limited-69d6eea6

## Summary

### Background

JM Financial Credit Solutions Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against HEM Infrastructure and Property Developers Pvt. Ltd. for their inability to pay an outstanding amount of Rs. 242,82,00,969/-. The Financial Creditor and the Corporate Debtor entered into multiple loan agreements, and the Corporate Debtor provided corporate guarantees to secure the loans.

## Facts

JM Financial Credit Solutions Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against HEM Infrastructure and Property Developers Pvt. Ltd.

The outstanding amount claimed by the Financial Creditor is Rs. 242,82,00,969/-.

The Financial Creditor entered into 6 loan agreements with M/s. HEM Bhattad, with loan facilities aggregating to Rs. 288,20,00,000/-.

The Corporate Debtor executed corporate guarantees in favor of the Financial Creditor to secure the loan facilities.

The Borrower defaulted on payment of installments and interest from January 2023.

The Financial Creditor classified the loan accounts as Non-Performing Asset (NPA) on 01.05.2023.

…

## Issues and analysis

### Issue 1: Whether the documents relied upon by the Financial Creditor are sufficient to prove the existence …

**Ratio:** The Adjudicating Authority must determine whether there is debt, and if it is satisfied

…

**Reasoning:** The Financial Creditor provided Loan Agreements, Deeds of Corporate Guarantees, Bank

…

**Interpretation:** The documents provided by the Financial Creditor clearly established the

…

**Application:** The Adjudicating Authority was satisfied that the Financial Creditor had proved

…

## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** JM Financial…
- **Respondents:** HEM Infrastructure…
- **Other parties:** Rajesh Jhunjhunwal…
- **Advocates:** Shyam Ka…; Muskan…; +6 more

## Timeline

- **2017-12-14 — Deed of Corporate…**: Dated 14.12.2017 for…
- **2018-07-31 — Deed of Corporate…**: Dated 31.07.2018 for…

## Legal provisions

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

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/hem-infrastructure-and-property-developers-private-limited-69d6eea6