# In the matter of NOBAL BUILDTECH PRIVATE LIMITED

> NCLT judgment dated 2026-03-23. Citation: TCN-2026-NCLT-00262. These three appeals arise out of the same CIRP initiated against the corporate debtor, Nobel…

- **Court:** NCLT
- **Order date:** 23 Mar 2026
- **Citation:** TCN-2026-NCLT-00262
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/nobal-buildtech-private-limited-ce533b65

## Summary

### Background

These three appeals arise out of the same CIRP initiated against the corporate debtor, Nobel Buildtech Private Limited. The financial creditor, Orbis Trusteeship Services Private Limited, initiated proceedings under Section 7 against the principal borrower, corporate guarantors, and personal guarantors. Applications against the principal borrower, corporate guarantor, as well as proceedings under Section 95 of the Insolvency and Bankruptcy Code, 2016 against the personal guarantor were admitted.

## Facts

Kindle Infraheights Pvt. Ltd. raised funds through issuance of secured Non-Convertible Debentures (NCDs) to Asia Pragati Strategic Investment Fund.

Orbis Trusteeship Services Pvt. Ltd. was appointed as Debenture Trustee for the NCDs.

Nobal Buildtech Pvt. Ltd. stood as corporate guarantor for the NCDs.

A Settlement Agreement was entered between the parties on 09.05.2025, where parties agreed for withdrawal of CIRP proceedings.

The total settlement amount was fixed as ₹210 crore.

The adjudicating authority held that Orbis Trusteeship Services Private Limited is a sole financial creditor.

The adjudicating authority allowed the Restoration Application and restored the CIRP.

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## Issues and analysis

### Issue 1: Whether the debenture trustee was competent to file the present application under Section 7 of the …

**Ratio:** Section 71(5) & (6) of the Companies

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**Reasoning:** The debenture trustee has an independent right and obligation to take steps in respect of

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**Interpretation:** The debenture trustee is competent to file the present application under

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**Application:** The Hon'ble NCLAT while dealing with the same issue mentioned above had taken

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## Parties

- **Judges:** Ashok Bh…; Sanjay…; +5 more
- **Appellants:** ORBIS TRUSTEESHIP…; Harvinder Singh…; +2 more
- **Respondents:** Nobal Buildtech…; Nobal Buildtech…; +3 more
- **Other parties:** Asia Pragati…; Hemant…; +1 more
- **Advocates:** Shyam D…; S. Niranjan…; +36 more

## Timeline

- **2026-03-23 — Hearing…**: This matter was called…
- **2026-05-18 — Returnabl…**: Issue notice,…

## 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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