# In the matter of Kasturi Farm Private Limited

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00289. This is an application filed by Omshree Agro Tech Private Limited (Operational Creditor) under…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00289
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/kasturi-farm-private-limited-5a45d280

## Summary

### Background

This is an application filed by Omshree Agro Tech Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against Kasturi Farm Private Limited (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 Operational Creditor claimed a total default of Rs. 1,38,98,889/-.

The Corporate Debtor argued that the application was not maintainable and that there was a pre-existing dispute.

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

The Tribunal found that the Operational Creditor met the threshold of Rs. 1 Crore at the time of filing the application.

The Tribunal appointed 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 Creditor demonstrates a default

…

**Reasoning:** The Tribunal considered the submissions of

…

**Interpretation:** Section 9 of the IBC allows an Operational Creditor to initiate CIRP if a

…

**Application:** The Tribunal found that the Operational Creditor had demonstrated a default

…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Omshree Agro Tech…
- **Respondents:** Kasturi Farm…
- **Other parties:** Sachin Mahendra…; Rajesh Kumar…; +1 more
- **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 admitted the application and initiated CIRP against Kasturi Farm Private…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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