# In the matter of QUANTECO WORLD LIMITED

> NCLT judgment dated 2025-09-12. Citation: TCN-2025-NCLT-01349. Goyal Achal Sampatti Vikas And Niyojan Nigam Limited, the Financial Creditor/Petitioner, filed…

- **Court:** NCLT
- **Order date:** 12 Sept 2025
- **Citation:** TCN-2025-NCLT-01349
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/quanteco-world-limited-249ce18b

## Summary

### Background

Goyal Achal Sampatti Vikas And Niyojan Nigam Limited, the Financial Creditor/Petitioner, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Quanteco World Limited, the Corporate Debtor, seeking initiation of Corporate Insolvency Resolution Process (CIRP).

## Facts

The application was filed by Goyal Achal Sampatti Vikas and Niyojan Nigam Limited against Quanteco World Limited under Section 7 of the IBC.

The amount claimed to be in default is INR 22,37,50,904/-, and the date of default is stated as 04th August, 2024.

The Applicant (Financial Creditor) advanced a sum of INR 21,49,00,000/- to the Corporate Debtor under a Loan Agreement dated 30.07.2023.

The Corporate Debtor failed to make complete payments towards the monthly installments as per the agreed repayment schedule.

The Applicant issued a Loan Recall Notice dated 18.12.2024, invoking Articles 2.8 and 7.5 of the Loan Agreement, demanding repayment of INR 22,37,50,904/-.

The Corporate Debtor made some repayments, but a significant default remained.

…

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC is maintainable despite the existence of an …

**Ratio:** The Hon'ble Supreme Court in Indus Biotech Private Limited v. Kotak India Venture

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**Reasoning:** The Adjudicating Authority is duty-bound to ascertain the debt and default while

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**Interpretation:** The existence of an arbitration clause does not preclude the Adjudicating

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**Application:** The Adjudicating Authority rejected the plea of arbitration taken by the

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Goyal Achal…
- **Respondents:** Quanteco World…
- **Other parties:** Dhwani D…; Deepak Kuma…; +3 more
- **Advocates:** Mrinal Harsh…; Kailash…; +2 more

## Timeline

- **2023-07-30 — Loan Agreeme…**: The Applicant advanced a sum of INR 21,49,00,000/- to the Corporate Debtor under a Loan…
- **2024-06-13 — Reminder-cum-Demand…**: The Applicant issued a…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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