# In the matter of Vitasta Software India Private Limited

> NCLT judgment dated 2025-11-07. Citation: TCN-2025-NCLT-01617. Capital Trade Links Ltd., the Financial Creditor, filed a petition under Section 7 of the…

- **Court:** NCLT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLT-01617
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/vitasta-software-india-private-limited-c182c8cc

## Summary

### Background

Capital Trade Links Ltd., the Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Vitasta Software India Pvt. Ltd., the Corporate Debtor.

## Facts

Capital Trade Links Ltd. is a registered Non-Banking Financial Company (NBFC).

Vitasta Software India Pvt. Ltd. is the Corporate Debtor.

The Corporate Debtor approached the Financial Creditor for a business loan of ₹20,00,00,000.

A loan agreement was executed between the parties on 28.06.2024.

The Financial Creditor extended a short-term loan facility of ₹13,50,00,000 in multiple tranches.

The Corporate Debtor was liable to pay interest at the rate of 1.5% per month.

The Corporate Debtor committed its first default on 01.10.2024.

The Corporate Debtor committed a second default on 15.02.2025.

The Petitioner claimed Rs.13,50,00,000/- as the amount of default.

The total amount of debt claimed by the Financial Creditor is Rs. 157289321.00/-.

…

## Issues and analysis

### Issue 1: Whether the Petitioner has been able to …

**Ratio:** The Adjudicating Authority is required only to ascertain the existence of a “debt” and

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**Reasoning:** The Adjudicating Authority relied on Section 7(3)(a) of IBC, 2016, and Regulation 2A of

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**Interpretation:** The exact amount of financial debt is immaterial as long as the amount admitted

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**Application:** The Adjudicating Authority determined that the disbursed amount is far more

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## Parties

- **Judges:** Sh. Ashok Kumar…; RAVINDRA CHATURVED…
- **Appellants:** Capital Trade…
- **Respondents:** Vitasta Software…
- **Other parties:** Shrishti…
- **Advocates:** Pankaj Ag…; Shashwat Srivastav…; +2 more

## Timeline

- **2024-06-28 — Loan Agre…**: A loan agreement was executed between Capital Trade Links Ltd. and Vitasta Software India…
- **2024-10-01 — First De…**: The Corporate Debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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