Section 7 Admission Upheld as Multiple Instalment Defaults Cross IBC Threshold

Karan Bhatia Vs Tata Capital Financial Ltd. & Anr. (NCLAT Delhi) The appeal before the National Company Law Appellate Tribunal, Delhi, challenged the order dated 11.09.2025 by which the Adjudicating Authority admitted a Section 7 application under the Insolvency and Bankruptcy Code. The financial creditor had filed the application alleging default by the corporate debtor in respect of a loan of Rs. 25 crore. As pleaded in Part IV of the application, the total amount claimed to be in default was Rs. 19,23,29,846 as on 07.12.2024. The date of default was stated as 05.09.2024, being the first...