# In the matter of Sadhana City Homes Private Limited vs. Upal Buildtech Private Limited

> NCLT judgment dated 2025-07-08. Citation: TCN-2025-NCLT-00769. M/s Sadhana City Homes Private Limited, the Financial Creditor, filed a petition under Section…

- **Court:** NCLT
- **Order date:** 8 Jul 2025
- **Citation:** TCN-2025-NCLT-00769
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/sadhana-city-homes-private-limited-vs-upal-buildtech-private-limited-dbab888f

## Summary

### Background

M/s Sadhana City Homes Private Limited, the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s UPAL Buildtech Private Limited, the Corporate Debtor.

## Facts

M/s Sadhana City Homes Private Limited filed a petition under Section 7 of the IBC to initiate CIRP against M/s UPAL Buildtech Private Limited. The Corporate Debtor, M/s UPAL Buildtech Private Limited, is a Corporate Guarantor to the Principal Borrower, M/s Vayuputra Constructions Private Limited. The Principal Borrower approached the Financial Creditor in 2016 for financial assistance. A Loan Agreement dated 01.05.2017 was entered into between the Financial Creditor and the Principal Borrower. The Financial Creditor extended the loan facility for a period of 2 years. The Financial Creditor and Principal Borrower executed a Memorandum of Understanding (MOU) cum Loan Amendment agreement on 20.05.2020. The Financial Creditor sent an Invocation Letter dated 02.08.2023 to

…

## Issues and analysis

### Issue 1: Whether the Financial Creditor can file separate applications under Section 7 of the IBC against …

**Ratio:** The financial creditor can always file separate applications under Section 7 of the IBC

…

**Reasoning:** The Hon'ble Supreme Court in BRS Ventures Investments Ltd. vs. SREI Infrastructure

…

**Interpretation:** The Adjudicating Authority interpreted the Supreme Court's decision to mean

…

**Application:** The Adjudicating Authority applied the Supreme Court's decision to the present

…

## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Sadhana City…
- **Respondents:** UPAL Buildtech…
- **Other parties:** Shivanand…; Vayuputra…
- **Advocates:** Yashraj…; Pankaj Ag…; +1 more

## Timeline

- **2023-09-17 — Application…**: The present application was filed…
- **2024-12-04 — CIRP Initiated Against…**: Co-ordinate bench of this Adjudicating Authority had initiated CIRP against the Principal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

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/sadhana-city-homes-private-limited-vs-upal-buildtech-private-limited-dbab888f