# In the matter of METROPOLITAN INFRAHOUSING PRIVATE LIMITED

> NCLT judgment dated 2025-11-20. Citation: TCN-2025-NCLT-01837. Gactel Turnkey Projects Limited, the Financial Creditor (FC), filed an application under…

- **Court:** NCLT
- **Order date:** 20 Nov 2025
- **Citation:** TCN-2025-NCLT-01837
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/metropolitan-infrahousing-private-limited-9fb5674f

## Summary

### Background

Gactel Turnkey Projects Limited, the Financial Creditor (FC), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against Metropolitan Infrahousing Private Limited, the Corporate Debtor (CD).

## Facts

The application was filed on 07.04.2025 by Gactel Turnkey Project Limited.

The amount claimed to be in default as on 31.03.2024 is Rs.1,31,88,82,808/-.

The date of default is stated to be 02.10.2024.

The Applicant proposed Mr. Balajee Sumant Chemote as the Interim Resolution Professional (IRP).

The CD had approached the Applicant seeking financial assistance of Rs.50,70,00,000/-.

The principal amount in default is Rs.50,70,00,000/-, and the accrued interest up to 31.03.2024 is Rs. 81,18,82,808/-.

The Financial Creditor itself underwent CIRP, and Mr. Kumar Raghavan was appointed as the Interim Resolution Professional (IRP).

The CD acknowledged the liability towards the outstanding dues vide letter dated 02.09.2024.

The date of default is deemed to be 02.10.2024.

…

## Issues and analysis

### Issue 1: Whether the application is complete in terms of …

**Ratio:** The Hon'ble Supreme Court in the case of Innoventive Industries Limited v. ICICI Bank

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**Reasoning:** The Tribunal assessed the records provided by the financial creditor to satisfy itself

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**Interpretation:** The Adjudicating Authority is limited to assessing the records provided by the

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**Application:** The Tribunal found that the application was complete in terms of Section 7 of

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Gactel Turnkey…
- **Respondents:** Metropolitan…
- **Other parties:** Balajee Sumant…; Kumar Rag…
- **Advocates:** Milly Gh…

## Timeline

- **2025-04-07 — Application…**: C.P. (IB) No.200/MB/2025 (Application) was filed on 07.04.2025 by Gactel Turnkey Project…
- **2024-03-27 — CIRP Ord…**: The Applicant is under CIRP pursuant to the…

## 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)

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