# In the matter of Claro Energy Private Limited

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01721. The case involves an application by Modern Solar Private Limited (Financial Creditor) to…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01721
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/claro-energy-private-limited-19c6e282

## Summary

### Background

The case involves an application by Modern Solar Private Limited (Financial Creditor) to initiate CIRP against Claro Energy Private Limited (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code, 2016, based on an alleged financial debt.

## Facts

Modern Solar Private Limited (Applicant/Financial Creditor) sought to initiate CIRP against Claro Energy Private Limited (Corporate Debtor) under Section 7 of the IBC.

The Applicant claimed to have advanced INR 20,00,000.00 to the Corporate Debtor as a loan for a project.

The Corporate Debtor contended that the amount was an investment towards a profit-sharing arrangement.

The Applicant had initially filed a winding-up petition before the Delhi High Court, which was later transferred to the Adjudicating Authority.

The Corporate Debtor issued a cheque for INR 20,00,000.00, which was subsequently dishonored.

Email correspondence between the parties indicated discussions about restructuring the investment as a loan.

…

## Issues and analysis

### Issue 1: Whether the amount of INR 20,00,000.00 deposited by the Applicant/Financial Creditor falls within …

**Ratio:** An amount must be disbursed against the time value of money to qualify as a financial

…

**Reasoning:** The Adjudicating Authority relied on email correspondence and the conduct of the parties

…

**Interpretation:** The Adjudicating Authority interpreted the email correspondence as indicating

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**Application:** The Adjudicating Authority applied the principle that an investment on a

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Anu Jagmoha…
- **Appellants:** Modern Solar…
- **Respondents:** Claro Energy…
- **Advocates:** Siddhant J…; Abhishek…; +3 more

## Timeline

- **2013-02-02 — RTGS Tra…**: INR 10,00,000.00 was paid on 02.03.2013 as…
- **2013-03-19 — RTGS Tra…**: INR 10,00,000.00 was paid on 19.03.2013 as…

## 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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