NCLT Admits Insolvency Petition Because Borrower Defaulted on ₹36 Crore Loan Repayment

Indian Renewable Energy Development Agency Limited Vs Novus Green Energy Systems Limited (NCLT Hyderabad) The National Company Law Tribunal (NCLT), Hyderabad Bench, admitted an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to default in repayment of financial debt amounting to ₹34,68,49,261 as on 15.09.2025. The financial creditor had sanctioned a short-term loan facility of ₹36 crore to the corporate debtor through a sanction letter dated 19.03.2021 for...