# M/s. Creative Capital Services Limited vs. M/s. Akshaj Estate Private Limited

> NCLT judgment dated 2026-08-18. Citation: TCN-2026-NCLT-00893. M/s. Creative Capital Services Limited, the Financial Creditor, filed an application under…

- **Court:** NCLT
- **Order date:** 18 Aug 2026
- **Citation:** TCN-2026-NCLT-00893
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ms-creative-capital-services-limited-vs-ms-akshaj-estate-private-limited-xbcbr

## Summary

### Background

M/s. Creative Capital Services Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s. Akshaj Estate Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The alleged default amount is Rs. 8,50,00,000/-, with the date of default stated as 31.01.2025. The Financial Creditor, a Non-Banking Finance Company, had initially sold 1885095 equity shares of M/s Emsons Organic Limited to a Principal Borrower for Rs. 8,48,29,275.00 in 2012. An Agreement 2012 was executed to secure repayment. Upon the Principal Borrower's failure to repay, Agreement 2014 was executed, converting the consideration amount into a mortgage loan. The Principal Borrower

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## Facts

An application was filed under Section 7 of the IBC, 2016 by M/s. Creative Capital Services Limited, the Financial Creditor.

The application seeks initiation of CIRP against M/s. Akshaj Estate Private Limited, the Corporate Debtor.

The alleged default amount is Rs. 8,50,00,000/-.

The date of default is stated to be 31.01.2025.

The Financial Creditor is a Non-Banking Finance Company.

A Loan Agreement dated 18.12.2014 was entered into between M/s. Creative Capital Services Limited and M/s. Akshaj Hi Tech Infrastructure Pvt. Ltd (Corporate Debtor).

The Financial Creditor was the owner of 1885095 equity shares of M/s Emsons Organic Limited.

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## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the IBC, 2016 by the Financial Creditor against …

**Ratio:** An application under Section 7 of the IBC, 2016 is admissible if the Financial Creditor

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**Reasoning:** The Financial Creditor provided documentary evidence including the Loan Agreement,

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**Interpretation:** Section 7 of the IBC empowers the Adjudicating Authority to admit an

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**Application:** Given the clear admission by the Corporate Debtor and the comprehensive

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## Parties

- **Judges:** BACHU VENKAT…; RAVINDRA CHATURVED…
- **Appellants:** M/s. Creative…
- **Respondents:** M/s. Akshaj…
- **Other parties:** Taruna…
- **Advocates:** Paras M…; Eshna K…; +3 more

## Timeline

- **2012-01-01 — Share Purchas…**: In January-February 2012, the Principal Borrower approached the Financial Creditor with…
- **2012-02-01 — Share Transfer…**: Copy of Share Transfer Form, bearing distinctive number 412108, dated 01.02.2012, was…

## 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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