# Jagdish Kumar, Liquidator of M/s. B.Y. Agro And Infra Ltd. vs. M/s. Wardha Mega Food Park Private Limited

> NCLT judgment dated 2026-09-04. Citation: TCN-2026-NCLT-00940. The application was filed by Mr. Jagdish Kumar, Liquidator of M/s. B.Y. Agro And Infra Limited…

- **Court:** NCLT
- **Order date:** 4 Sept 2026
- **Citation:** TCN-2026-NCLT-00940
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/jagdish-kumar-liquidator-of-ms-by-agro-and-infra-ltd-vs-ms-wardha-mega-food-park-j55w2

## Summary

### Background

The application was filed by Mr. Jagdish Kumar, Liquidator of M/s. B.Y. Agro And Infra Limited (Financial Creditor), under Section 7 of the IBC, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Wardha Mega Food Park Private Limited (Corporate Debtor). The claimed default amount is Rs. 1,48,09,921/-, with the date of default stated as 26.05.2022. The Financial Creditor had advanced an unsecured, interest-free loan to the Corporate Debtor for its working capital requirements. Both companies are sister concerns with common directors and shareholders, making the Corporate Debtor a related party of the Financial Creditor.

## Facts

C.P. (IB) No. 9 of 2026 (Application) was filed on 26.12.2025 by Mr. Jagdish Kumar, Liquidator of M/s. B.Y. Agro And Infra Limited.

The application seeks initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. Wardha Mega Food Park Private Limited (Corporate Debtor) under Section 7 of the IBC, 2016.

The amount claimed to be in default is Rs.1,48,09,921/-.

The date of default is stated as 26.05.2022.

Mr. Sanjay Shrivastava was proposed as the Interim Resolution Professional (IRP).

M/s. B.Y. Agro and Infra Limited (Applicant/FC) is engaged in agricultural and animal husbandry service activities and processing of frozen vegetables.

…

## Issues and analysis

### Issue 1: Whether there is sufficient evidence of the …

**Ratio:** The existence of a financial debt is not solely dependent on a formal loan agreement but

…

**Reasoning:** The Applicant's financial statements recorded the advance, and more importantly, the CD's

…

**Interpretation:** While a formal loan agreement is not indispensable, the underlying transaction

…

**Application:** The CD's repeated recognition of the liability in its own books and audited

…

## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Jagdish Kumar,…; Jagdish Kumar,…
- **Respondents:** M/s. Wardha Mega…
- **Other parties:** Committee of…; M/s. B.Y. Agro…; +2 more
- **Advocates:** Bilal…; Aakansha…; +1 more

## Timeline

- **2015-16 — Loan Adv…**: Applicant Company advanced an unsecured loan of Rs. 3,90,15,000/- to the Corporate Debtor…
- **2016-17 — Loan Amount…**: The loan amount was…

## 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)

---

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/jagdish-kumar-liquidator-of-ms-by-agro-and-infra-ltd-vs-ms-wardha-mega-food-park-j55w2