# Trig Detectives Private Limited vs. N/A

> NCLT judgment dated 2026-05-13. Citation: TCN-2026-NCLT-00509. Trig Detectives Private Limited, the Corporate Applicant, filed a petition under Section 10 of…

- **Court:** NCLT
- **Order date:** 13 May 2026
- **Citation:** TCN-2026-NCLT-00509
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/trig-detectives-private-limited-34mdh

## Summary

### Background

Trig Detectives Private Limited, the Corporate Applicant, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate its own Corporate Insolvency Resolution Process (CIRP). The company admitted to committing defaults in its debt obligations, including significant financial facilities from The Jammu and Kashmir Bank Limited, and was unable to service its debts due to severe financial distress and liquidity constraints. Its account was classified as a Non-Performing Asset (NPA) on June 30, 2022, and a demand notice under the SARFAESI Act, 2002, was issued but not complied with.

## Facts

Trig Detectives Private Limited (Corporate Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate its own Corporate Insolvency Resolution Process (CIRP).

The Corporate Applicant has committed defaults in repayment of its debt obligations and is unable to service its debts due to financial distress.

Trig Detectives Private Limited is a company incorporated under the Companies Act, 1956, with CIN U74920MH1983PTC031721, and its registered office is in Mumbai.

The company's Authorised Share Capital is ₹1,11,00,000/- and Paid-up Share Capital is ₹1,02,40,000/-.

The Corporate Applicant is engaged in providing security systems service activities and is heavily dependent on working capital and financial facilities.

…

## Issues and analysis

### Issue 1: Whether the Company Petition filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by …

**Ratio:** A Corporate Applicant's petition for initiation of CIRP under Section 10 of the IBC must

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**Reasoning:** The NCLT found that Trig Detectives Private Limited, as the Corporate Applicant, had

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**Interpretation:** Section 10 of the IBC provides a mechanism for a corporate debtor (referred to

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**Application:** In this case, Trig Detectives Private Limited clearly demonstrated its

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Respondents:** Trig Detectives…
- **Other parties:** Committee of…; Board of Directors…; +4 more
- **Advocates:** Shadab…; Anand…

## Timeline

- **2017-09-25 — Term Loan-I Sa…**: Term Loan-I facility aggregating to INR 6,45,000/- was sanctioned by The Jammu and…
- **2018-03-28 — Bank Guarantees I & II…**: Bank Guarantees BG-I for INR 2,84,36,953/- and BG-II for INR 2,83,25,047/- were…

## 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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