# In the matter of ROEVPL Ventures Private Limited

> NCLT judgment dated 2026-02-18. Citation: TCN-2026-NCLT-00148. Creative Ashtech Engineering Projects Private Limited filed an application under Section 7 of…

- **Court:** NCLT
- **Order date:** 18 Feb 2026
- **Citation:** TCN-2026-NCLT-00148
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/roevpl-ventures-private-limited-795f83bf

## Summary

### Background

Creative Ashtech Engineering Projects Private Limited filed an application under Section 7 of the IBC, 2016, seeking initiation of CIRP against ROEVPL Ventures Private Limited, the Corporate Debtor, due to a default on debentures.

## Facts

Creative Ashtech Engineering Projects Private Limited (Financial Creditor) filed an application under Section 7 of the IBC against ROEVPL Ventures Private Limited (Corporate Debtor).

The amount claimed to be in default is Rs.1,33,88,18,082/- as on 01.12.2024, including principal and interest.

The Applicant (Financial Creditor) proposed NPV Insolvency Professionals Private Limited to act as the Interim Resolution Professional (IRP).

AAA Vibgyor Entertainment Private Limited (AVEPL) issued debentures to raise funds, which were later subscribed to by Edico Ventures Private Limited.

The Financial Creditor advanced amounts to Edico, who assigned the debentures issued by AVEPL to the Financial Creditor.

…

## Issues and analysis

### Issue 1: Whether the debentures constitute a …

**Ratio:** Section 5(8)(c) expressly includes within its fold any amount raised pursuant to the

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**Reasoning:** The Tribunal found that the funds were disbursed against an assured yield of 12% p.a.,

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**Interpretation:** The Tribunal interpreted Section 5(8) of the IBC to include amounts raised

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**Application:** The Tribunal applied this interpretation to the facts of the case, concluding

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Creative Ashtech…; Amir Ars…; +1 more
- **Respondents:** ROEVPL Ventures…
- **Other parties:** Laxminarayan…; Sanjay S…; +1 more
- **Advocates:** Amir Ars…; Mithila…; +1 more

## Timeline

- **2024-12-12 — Application…**: C.P. (IB) No. 176 of 2025 (Application) was filed by Creative Ashtech Engineering…
- **2026-02-18 — Order Pron…**: Order pronounced in 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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