# In the matter of J MODI VENTURE PRIVATE LIMITED

> NCLT judgment dated 2026-03-05. Citation: TCN-2026-NCLT-00194. The Corporate Applicant, J MODI VENTURE PVT. LTD., filed a Company Petition under Section 10 of…

- **Court:** NCLT
- **Order date:** 5 Mar 2026
- **Citation:** TCN-2026-NCLT-00194
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/j-modi-venture-private-limited-9f572fe5

## Summary

### Background

The Corporate Applicant, J MODI VENTURE PVT. LTD., filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP) due to financial stress and inability to repay debts to creditors.

## Facts

J MODI VENTURE PVT. LTD. filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Applicant cited financial stress as the reason for initiating CIRP.

The Corporate Applicant's authorized share capital is ₹3,00,00,000/- and paid-up share capital is ₹2,43,38,100/-.

The total financial debt and default amount claimed is ₹7,27,63,065/- as on 30th December 2025.

Mehsana Urban Co-operative Bank Ltd. is the Financial Creditor, having extended financial assistance of ₹7,29,75,000/-.

The Corporate Applicant's account was declared NPA as per RBI guidelines.

Mr. Manish Lalji Dawda is proposed as the Interim Resolution Professional (IRP).

The Corporate Applicant passed a Special Resolution on 26th September 2025, approving the initiation of CIRP.

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## Issues and analysis

### Issue 1: Whether the application filed by the Corporate Applicant is complete in all respects as required by …

**Ratio:** The Adjudicating Authority found the

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**Reasoning:** The application included all necessary documents and information as required by the IBC

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**Interpretation:** Compliance with the procedural

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**Application:** The Adjudicating Authority perused the supporting documents and submissions and

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Respondents:** J MODI VENTURE…
- **Other parties:** Jatin Chandrakant…; Mehsana Urban Co…; +1 more
- **Advocates:** Maulik Ch…

## Timeline

- **2011-11-22 — Incorpor…**: J MODI VENTURE PVT.…
- **2017-07-13 — Sanction…**: Mehsana Urban Co-operative Bank Ltd. issued a sanction letter pursuant to Resolution No.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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