ITEM No.304

Under Section 7 IBC

IN THE MATTER OF:

CFM Asset Reconstruction Private Limited ... Applicant

V/s

Capbridge VentureLLP . Respondent

ORDER (Hybrid Mode)

The case is fixed for pronouncement of order. The order is pronounced in the open court, vide separate sheet.

O-SANJEEV SHARMA SHAMMI KHAN

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

BEFORE THE ADJUDICATING AUTHORITY

NATIONAL COMPANY LAW TRIBUNAL DIVISION BENCH, COURT-1, AHMEDABAD BENCH

CP (IB) No.225/7/AHM/2026.

(An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016)

In the Matter of:

CFM Asset Reconstruction Private Limited (CIN: U67100GJ2015PTC083994)

Registered Office: Block No. A/1003, West Gate, Near YMCA Club, Survey No. 835/13, S.G. Highway, Makarba, Ahmedabad, Gujarat — 380051.

....Applicant/Financial Creditor

VERSUS

M/s Capbridge Venture LLP (LLPIN: AAT-2035)

Registered Office: 15t Floor, A Block, Westgate Business Bay, S.G. Road, Jivraj Park, Ahmedabad, Gujarat — 380051.

....Respondent/Corporate Debtor

Order Pronounced On: 30.07.2026

CORAM:

SH. SHAMMI KHAN, HON’BLE MEMBER (JUDICIAL)

SH. SANJEEV SHARMA, HON’BLE MEMBER (TECHNICAL)

APPEARANCE:

For the Applicant/FC : Mr. Sumit Parikh, Advocate.

For the Respondent/CD : Mr. Rahul K. Kanoujia, Advocate.

ORDER

Per Bench

1. This Company Petition, registered on 16.07.2026, has been filed by CFM Asset Reconstruction Private Limited ('Financial Creditor") under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 seeking initiation of Corporate Insolvency Resolution Process ('CIRP") against M/s Capbridge Venture LLP ("Corporate Debtor") on an alleged default in repayment of Financial Debt amounting to Rs.58,55,65,117.24, together with applicable interest and other charges.

2. On perusal of Part-I of Form-1, it is revealed that the Applicant is a company incorporated under the Companies Act, 2013 on 31.07.2015 having CIN U67100GJ2015PTC083994 and its registered office at Ahmedabad, Gujarat. The Petition has been instituted through its authorised representative, Mr. Chetan Rajpurohit, Chief Manager, pursuant to the Authorisation Letter annexed as Annexure-13.

3. On perusal of Part-II of Form-1, it is revealed that the Respondent is a Limited Liability Partnership incorporated on 02.08.2020 under the Limited Liability Partnership Act, 2008 having LLPIN AAT-2035 and its registered office at Ahmedabad, Gujarat. The Master Data of the Respondent issued by the Ministry of Corporate Affairs has been placed on record as Annexure-1.

4. On perusal of Part-IIl of Form-1, it is revealed that the Applicant has proposed Mr. Bhavesh Manubhai Rathod, Registration No. IBBI/IPA-001/1P-PO1200/2018- 2019/11910, as Interim Resolution Professional under Section 16 of the Code. His written communication in Form-2, Authorisation for Assignment and Certificate of Registration are annexed collectively as Annexure-14.

5. On perusal of Part-IV of Form-1, it is revealed that the Applicant has claimed a Financial Debt of Rs.58,55,65,117.24 as on 31.05.2026, comprising Rs.46,67,42,921.79 towards principal outstanding and Rs.11,88,22,195.45 towards penal interest and other charges. The date of default has been stated as 04.07.2025, being the date on which the loan account was classified as Non-Performing Asset (NPA).

6. The facts pleaded by the Applicant in Parts IV and V of Form-1 may be summarised as under: -

6.1 It is stated that Poonawalla Fincorp Limited, the Original Lender, sanctioned a Loan Against Property facility of Rs.25,00,00,000/- in favour of the Corporate Debtor and its co-borrowers vide Sanction Letter dated 28.12.2023 and Loan Agreement No. LAP0O031100000016719628. The Sanction Letter, Loan Agreement, Mortgage Deed dated 28.12.2023 and allied loan documents are annexed as Annexure-2 (Colly.).

6.2 It is further stated that, upon