# In the matter of CORONATION INFRASTRUCTURE PRIVATE LIMITED

> NCLT judgment dated 2025-09-17. Citation: TCN-2025-NCLT-01371. Srei Equipment Finance Limited filed an application under Section 7 of the IBC, 2016 against…

- **Court:** NCLT
- **Order date:** 17 Sept 2025
- **Citation:** TCN-2025-NCLT-01371
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/coronation-infrastructure-private-limited-7cf8a08c

## Summary

### Background

Srei Equipment Finance Limited filed an application under Section 7 of the IBC, 2016 against Coronation Infrastructure Private Limited, alleging default in repayment of debt.

## Facts

Srei Equipment Finance Limited claimed a default of Rs. 80,41,64,116/- as of 03-04-2024.

The Corporate Debtor contended that the application was filed without due authorization and was based on unstamped loan agreements.

The Corporate Debtor argued that the default occurred during the period mentioned in Section 10A of IBC, 2016.

The Corporate Debtor sold secured property for INR 45.3 crores, the proceeds of which went to the Applicant on 30.6.2023.

The Applicant issued a fresh recall notice dated 28.12.2023 seeking payment of Rs. 75,75,14,032 by 12.01.2024.

The date of default was determined to be 12.01.2021, which is outside the Section 10A period.

…

## Issues and analysis

### Issue 1: Whether the application under Section 7 of IBC is maintainable despite the Corporate Debtor's …

**Ratio:** The NCLT held that the application is maintainable because the default occurred after the

…

**Reasoning:** The NCLT considered the arguments presented by both parties and relied on precedents from

…

**Interpretation:** The NCLT interpreted Section 7 of IBC, 2016, and Section 10A in light of the

…

**Application:** The NCLT applied the principles established in the precedents to the facts of

…

## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** SREI Equipment…; Manish Ag…
- **Respondents:** Coronation…
- **Advocates:** Anirban Bhattachar…; Priyanka…; +1 more

## Timeline

- **2024-03-04 — Default A…**: Total Amount claimed to be in default…
- **2025-09-17 — Order Del…**: Order Delivered on:…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/coronation-infrastructure-private-limited-7cf8a08c