# Akkme Food Craft Limited vs. Regal Enterprises Limited

> NCLT judgment dated 2026-07-09. Citation: TCN-2026-NCLT-00611. Akkme Food Craft Limited (Financial Creditor) filed an application under Section 7 of the IBC,…

- **Court:** NCLT
- **Order date:** 9 Jul 2026
- **Citation:** TCN-2026-NCLT-00611
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/akkme-food-craft-limited-vs-regal-enterprises-limited-a72x1

## Summary

### Background

Akkme Food Craft Limited (Financial Creditor) filed an application under Section 7 of the IBC, 2016, against Regal Enterprises Limited (Corporate Debtor) for initiating CIRP due to an alleged financial default of Rs.1,05,74,726/-. The default arose from an Inter-Corporate Deposit (ICD) of Rs.1,00,00,000/- provided by the Financial Creditor to the Corporate Debtor, which matured on 31.01.2026. Cheques issued by the Corporate Debtor for repayment were dishonoured on 24.02.2026 due to "Funds Insufficient".

## Facts

Akkme Food Craft Limited (Financial Creditor) filed an application under Section 7 of the IBC, 2016, seeking initiation of CIRP against Regal Enterprises Limited (Corporate Debtor).

The application was filed due to an alleged financial default of Rs.1,05,74,726/- as on 31.01.2026.

Akkme Food Craft Limited is a public company incorporated under the Companies Act, 2013.

Regal Enterprises Limited is a public company incorporated on 06.11.1989 under the Companies Act, 1956.

The Financial Creditor is engaged in operating cloud kitchens and Quick Service Restaurants (QSR).

The Corporate Debtor was supplying dry fruits and grocery items to the Financial Creditor.

…

## Issues and analysis

### Issue 1: Whether there exists a financial debt and a …

**Ratio:** A financial debt exists when money is disbursed against the consideration for the time

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**Reasoning:** The Financial Creditor disbursed Rs.1,00,00,000/- as an Inter-Corporate Deposit (ICD)

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**Interpretation:** The Tribunal's scope under Section 7 is limited to ascertaining the existence

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**Application:** The ICD provided by Akkme Food Craft Limited to Regal Enterprises Limited,

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## Parties

- **Judges:** ANUPINDER SINGH…; RAVINDRA CHATURVED…
- **Appellants:** Akkme Food Craft…
- **Respondents:** Regal Enterprises…
- **Other parties:** Prateek S…; Sandeep A…
- **Advocates:** Mukesh Su…; Milind G…; +2 more

## Timeline

- **1989-11-06 — Corporate Debtor…**: Regal Enterprises Limited (Corporate Debtor) was incorporated under the provisions of the…
- **2025-07 — Request for Financial…**: Regal Enterprises Limited (Corporate Debtor) approached Akkme Food Craft Limited…

## 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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