# In the matter of APNA GHAR PROPERTIES PRIVATE LIMITED

> NCLT judgment dated 2025-11-12. Citation: TCN-2025-NCLT-01662. IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 12 Nov 2025
- **Citation:** TCN-2025-NCLT-01662
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/apna-ghar-properties-private-limited-4a955788

## Summary

### Background

IL&FS Financial Services Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Apna Ghar Properties Private Limited, the Corporate Debtor, due to a default in payment of a financial debt.

## Facts

IL&FS Financial Services Limited ('Financial Creditor/Applicant') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Apna Ghar Properties Private Limited ('Corporate Debtor/Respondent').

The Corporate Debtor was incorporated on 12.10.1994.

The Corporate Debtor defaulted in making a payment of Rs. 234,35,74,411/- to the Applicant, which constitutes a Financial Debt as defined under Section 5(8) of IBC.

The Respondent is a Corporate Guarantor to the Principal Borrower i.e., M/s Ansal Properties and Infrastructure Limited.

The Applicant had granted a term loan facility of Rs.100,00,00,000/- to Ansal Properties and Infrastructure Limited ('APIL').

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## Issues and analysis

### Issue 1: Whether the petition under Section 7 of the IBC is …

**Ratio:** The financial creditor can always file separate applications under Section 7 of the IBC

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**Reasoning:** The Hon'ble Supreme Court of India in BRS Ventures Investments Ltd. vs. SREI

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**Interpretation:** The initiation of CIRP against the Principal Borrower does not bar initiation

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**Application:** The petition under Section 7 of the IBC is maintainable against the Corporate

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** IL & FS Financial…
- **Respondents:** APNA GHAR…
- **Other parties:** Chandar P…
- **Advocates:** Gopal…; Satendra Ku…; +1 more

## Timeline

- **2016-10-26 — Sanction…**: Applicant extended credit facilities of Rs.100,00,00,000/- vide its sanction letter…
- **2016-11-25 — Loan Agre…**: Loan agreement dated…

## 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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