# In the matter of Bliss Infratech Private Limited

> NCLT judgment dated 2025-10-10. Citation: TCN-2025-NCLT-01562. IIFL Home Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 10 Oct 2025
- **Citation:** TCN-2025-NCLT-01562
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/bliss-infratech-private-limited-cd7eb9b9

## Summary

### Background

IIFL Home Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Bliss Infratech Private Limited.

## Facts

IIFL Home Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Bliss Infratech Private Limited.

The Corporate Debtor, Bliss Infratech Private Limited, was incorporated on 04.11.2009.

The alleged total amount of default is Rs. 1,82,70,361.24 as on 07.07.2025.

On 19.01.2016, the Corporate Debtor along with Sana Ali and Azhar Ali approached the Financial Creditor for a loan.

A loan agreement was executed on 22.03.2016 between the Financial Creditor, the borrowers, and Bliss Infratech Private Limited.

The Financial Creditor issued a demand notice to the Corporate Debtor on 22.01.2025.

The loan amount was disbursed directly to Supertech Limited, the project developer, on behalf of the individual allottees.

…

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, is …

**Ratio:** The application is not

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**Reasoning:** The Tribunal found that the ingredients of financial debt owed by the Corporate Debtor

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**Interpretation:** Section 7 of the Code can be invoked only when there exists a financial debt

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**Application:** In this case, there was no documentary evidence of such debt being owed by

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** IIFL Home Finance…
- **Respondents:** Bliss Infratech…
- **Advocates:** Kaushik M…; Shailesh K.…

## Timeline

- **2016-03-22 — Loan Agre…**: A loan agreement was executed between the Financial Creditor, the borrowers, and Bliss…
- **2025-01-22 — Demand N…**: The Financial Creditor issued a…

## 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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