# In the matter of NEUROSTAR HOSPITAL PRIVATE LIMITED

> NCLT judgment dated 2026-04-09. Citation: TCN-2026-NCLT-00318. Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 9 Apr 2026
- **Citation:** TCN-2026-NCLT-00318
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/neurostar-hospital-private-limited-af983f79

## Summary

### Background

Bank of India filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Neurostar Hospital Private Limited, citing a default of Rs. 28,51,75,324.38/-. The date of default was stated as 28.02.2023, and the date of NPA as 29.05.2023.

## Facts

Bank of India filed C.P. (IB) No.1031/MB/2025 on 08.09.2025 under Section 7 of the IBC.

The amount claimed to be in default is Rs. 28,51,75,324.38/-.

The date of default is stated as 28.02.2023, and the date of NPA is stated as 29.05.2023.

The Corporate Debtor availed Term Loan facilities of Rs. 20.45 Crores in 2020 and WCTL of Rs 5.85 crores in 2022.

The Applicant proposed the name of Mr. Purusottam Behera as the Interim Resolution Professional (IRP).

The Corporate Debtor neither filed a reply nor appeared before the Tribunal.

Bank of India sanctioned two credit facilities: a term loan of Rs 20.45 Crore on 13.03.2020 and a Working Capital Term Loan of Rs 5.85 Crore under Star GECL scheme on 29.01.2022.

…

## Issues and analysis

### Issue 1: Whether the application filed under …

**Ratio:** The Code prescribes whenever a Corporate Debtor defaults on a debt that is due and

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**Reasoning:** The Tribunal found that the Corporate Debtor defaulted on its repayment obligations, and

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**Interpretation:** The Tribunal interpreted Section 7 of the IBC to allow for the initiation of

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**Application:** The Tribunal applied the provisions of Section 7 of the IBC and admitted the

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Bank of…
- **Respondents:** Neurostar…
- **Other parties:** Amit…; (Mrs.) Rocha Amit…; +1 more
- **Advocates:** Adv.Deepak…; Pallavi Pan…

## Timeline

- **2023-02-28 — Date of D…**: The date of default is…
- **2023-05-29 — Date of…**: The date of NPA is…

## 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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