# In the matter of Nexgen Infracon Private Limited

> NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01687. Samridhi Realty Homes Private Ltd. filed a Company Petition under Section 7 of the Insolvency…

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01687
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/nexgen-infracon-private-limited-e98e4b6b

## Summary

### Background

Samridhi Realty Homes Private Ltd. filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Nexgen Infracon Pvt. Ltd. due to an alleged default of ₹1,12,70,928/-.

## Facts

Samridhi Realty Homes Private Ltd. (Financial Creditor) filed a petition under Section 7 of the IBC against Nexgen Infracon Pvt. Ltd. (Corporate Debtor) for a default of ₹1,12,70,928/-.

A loan agreement was executed between the Financial Creditor and the Corporate Debtor on 30.03.2021, where the Financial Creditor disbursed ₹1,00,00,000/- at an interest rate of 9% per annum.

The Corporate Debtor requested an extension of time to repay the loan and made a partial payment of ₹30,00,000/- on 13.09.2024.

A Compromise Deed was executed on 11.04.2025, where the Corporate Debtor acknowledged its liability and agreed to pay ₹1,00,00,000/- in five monthly installments.

…

## Issues and analysis

### Issue 1: Whether the obligation to pay the outstanding liability constitutes a 'financial debt' under …

**Ratio:** For a debt to qualify as a financial debt under Section 5(8) of the Insolvency and

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**Reasoning:** A mere breach of the terms of an agreement, including a Settlement or Compromise Deed

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**Interpretation:** The court interpreted Section 5(8) of the IBC to require an actual disbursement

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**Application:** The court applied this interpretation to the facts of the case, noting that

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** Samridhi Realty…
- **Respondents:** Nexgen Infracon…
- **Advocates:** Akshay S…; Madhur Dh…; +1 more

## Timeline

- **2021-03-30 — Loan Agre…**: Loan Agreement executed between Samridhi Realty Homes Private Ltd. and Nexgen Infracon…
- **2024-09-13 — Partial P…**: Nexgen Infracon Pvt. Ltd. made a…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60 — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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