# Srei Equipment Finance Limited vs. R S Kamthe Infrastructure Developers private Limited

> NCLT judgment dated 2026-10-14. Citation: TCN-2026-NCLT-01209. SREI Equipment Financial Limited (Financial Creditor) filed a petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 14 Oct 2026
- **Citation:** TCN-2026-NCLT-01209
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/r-s-kamthe-infrastructure-developers-private-limited-nvekj

## Summary

### Background

SREI Equipment Financial Limited (Financial Creditor) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against R S Kamthe Infrastructure Developers Private Limited (Corporate Debtor) for a total default amount of Rs. 7,28,54,918/- (Loan 178737) and Rs. 3,76,30,632/- (Loan 180822) as on 12.08.2022. The petition was initially dismissed by the NCLT on 02.11.2023, citing a bar under Section 10A of the Code. The Financial Creditor appealed this dismissal to the NCLAT, which, vide order dated 28.01.2026, set aside the dismissal and revived the petition for fresh consideration. Subsequently, the NCLT restored the Company Petition on 20.02.2026. The Corporate Debtor disputed the existence of debt, claiming repayment for one loan and

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## Facts

SREI Equipment Financial Limited (Petitioner/Financial Creditor) filed a petition under Section 7 of IBC, 2016 against R S Kamthe Infrastructure Developers Private Limited (Respondent/Corporate Debtor).

The Petitioner claimed a total outstanding default of Rs. 7,28,54,918/- as on 12.08.2022 for Loan Agreement No. 178737.

The Petitioner claimed a total outstanding default of Rs. 3,76,30,632/- as on 12.08.2022 for Loan Agreement No. 180822.

The Company Petition was initially dismissed by order dated 02.11.2023 on the ground that it was barred under Section 10A of the Code.

The Petitioner challenged the dismissal order by filing an appeal, CA (AT) (Ins) No. 116 of 2024, before the Hon'ble NCLAT.

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## Issues and analysis

### Issue 1: Whether the Petitioner, SREI Equipment Financial Limited, has established the existence of a …

**Ratio:** The Tribunal found that financial debt and default were established for Loan Agreement

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**Reasoning:** The Corporate Debtor received Rs. 2,95,00,000/- in its bank account on 10.07.2019. The

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**Interpretation:** The absence of credible evidence to support the Corporate Debtor's claim of

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**Application:** The Tribunal rejected the Corporate Debtor's contention of repayment for Loan

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## Parties

- **Judges:** LAKSHMI G…; SH. CHARANJEET…
- **Appellants:** SREI Equipment…
- **Respondents:** R S Kamthe…
- **Other parties:** SREI Equipment…; Megha Ag…
- **Advocates:** Rohan Ag…; Harshad…; +4 more

## Timeline

- **2019-07-01 — First Loan Agreement…**: Master Facility Agreement (Loan Agreement No. 178737) executed between Petitioner and…
- **2019-07-10 — Loan Amount Received by…**: Sanctioned amount of Rs. 2,95,00,000/- under Loan Agreement No. 178737 received by 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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