# In the matter of Kasturi Farm Private Limited

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00291. This is an application filed by Omshree Agro Tech Private Limited, the Operational Creditor,…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00291
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/kasturi-farm-private-limited-133ab4ab

## Summary

### Background

This is an application filed by Omshree Agro Tech Private Limited, the Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Kasturi Farm Private Limited, the Corporate Debtor.

## Facts

Omshree Agro Tech Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Kasturi Farm Private Limited.

The Applicant is in the business of supplying Soya Doc 46% to the Corporate Debtor.

The total amount claimed to be in default is Rs. 1,38,98,889/-.

The Corporate Debtor made a payment of Rs. 25 Lakhs after the demand notice.

The Applicant proposed the name of Mr. Rajesh Kumar Mittal as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The application is maintainable if the operational debt exceeds the minimum threshold

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**Reasoning:** The Tribunal considered the submissions of both parties and found that the Applicant had

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**Interpretation:** The threshold for initiating CIRP is assessed based on the default existing at

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**Application:** The Tribunal admitted the application as the Applicant had met the threshold

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Omshree Agro Tech…
- **Respondents:** Kasturi Farm…
- **Other parties:** Sachin Mahendra…; Rajesh Kumar…
- **Advocates:** Ravi Shekar…; Suraj S. A…; +2 more

## Timeline

- **2024-07-01 — Application…**: Omshree Agro Tech Private Limited…
- **2026-03-17 — Order Pron…**: The Tribunal pronounced the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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