# In the matter of MADHUVAN TIEUP PVT LTD

> NCLT judgment dated 2026-04-06. Citation: TCN-2026-NCLT-00270. HDFC Bank Limited filed a petition under Section 7 of the IBC, 2016 to initiate Corporate…

- **Court:** NCLT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLT-00270
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/madhuvan-tieup-pvt-ltd-4fc76546

## Summary

### Background

HDFC Bank Limited filed a petition under Section 7 of the IBC, 2016 to initiate Corporate Insolvency Resolution Process (CIRP) against Madhuvan Tieup Pvt Ltd. due to unpaid financial debt. The Adjudicating Authority admitted the application, leading to the declaration of a moratorium and appointment of an Interim Resolution Professional (IRP).

## Facts

HDFC Bank Limited filed a petition under Section 7 of the IBC, 2016, claiming a default of Rs. 80,78,16,596.11/- as of 19.12.2022.

The Respondent, Madhuvan Tieup Pvt Ltd., was incorporated on 28.03.1996.

The Applicant Bank granted credit/loan facilities to the Respondent vide Sanction Letters dated 31.05.2017 and 11.05.2018.

The Respondent's account was classified as NPA on 27.12.2019.

The Respondent contended that the application was for recovery and not resolution, and that SARFAESI proceedings had been initiated.

The Respondent argued that the application was barred by Section 10A of IBC, 2016.

The Respondent claimed it was a Non-Banking Financial Company (NBFC).

…

## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** The Adjudicating Authority found the application to be complete and the

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**Reasoning:** The Adjudicating Authority rejected the objections raised by the Respondent, finding no

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**Interpretation:** The Adjudicating Authority interpreted the provisions of Section 7 of IBC, 2016

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**Application:** The Adjudicating Authority applied the provisions of Section 7 of IBC, 2016 to

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** HDFC Bank L…; Applicant…; +1 more
- **Respondents:** Madhuvan Tieup…
- **Advocates:** Bheem S.…; Mohit Cha…; +2 more

## Timeline

- **2026-04-06 — Order delive…**: Order delivered on…
- **N/A — Sanction L…**: Sanction Letters 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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