# Akkme Food Craft Limited vs. Regal Enterprises Limited

> NCLT judgment dated 2026-07-09. Citation: TCN-2026-NCLT-00684. Akkme Food Craft Limited (Financial Creditor) filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 9 Jul 2026
- **Citation:** TCN-2026-NCLT-00684
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/akkme-food-craft-limited-vs-regal-enterprises-limited-t9bt2

## Summary

### Background

Akkme Food Craft Limited (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (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 January 31, 2026. This default arose from an Inter-Corporate Deposit (ICD) of Rs. 1,00,00,000/- granted by the Financial Creditor to the Corporate Debtor in July 2025 for working capital and festive season inventory. The Corporate Debtor failed to repay the maturity amount by the agreed date, and two cheques issued for repayment were subsequently dishonoured on February 24, 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 Corporate Debtor's registered office is within the territorial jurisdiction of the National Company Law Tribunal, Principal Bench, New Delhi.

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

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## Issues and analysis

### Issue 1: Whether there exists a financial debt and a default in repayment by the Corporate Debtor to the …

**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) to

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

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**Application:** The Tribunal applied these interpretations to the facts, concluding that the

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## Parties

- **Judges:** ANUPINDER SINGH…; RAVINDRA CHATURVED…
- **Appellants:** Akkme Food Craft…
- **Respondents:** Regal Enterprises…
- **Other parties:** Prateek S…; M/s. AKKME FOOD…; +1 more
- **Advocates:** Mukesh Su…; Milind G…; +2 more

## Timeline

- **2025-07 — ICD Requ…**: Regal Enterprises Limited (Corporate Debtor) approached Akkme Food Craft Limited…
- **2025-07-28 — First ICD Disb…**: Financial Creditor disbursed Rs.…

## 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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