NCLT Admits CIRP Petition After Finding Financial Debt & Loan Default Established

Bank of India Vs Sunbeam Dealers Private Limited (NCLT Kolkata) In the matter of , the National Company Law Tribunal (NCLT), Kolkata Bench, considered a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Bank of India seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in repayment of financial debt amounting to Rs. 17.54 crore as on 17.10.2025. The Tribunal noted that notices had earlier been issued to the Corporate Debtor directing it to file its reply. Despite service through speed post and dasti serv...