Radhagobind Commercial

The National Company Law Tribunal, Kolkata has admitted an insolvency petition filed by Fort Cafe Food Services Pvt. Ltd. against Radhagobind Commercial Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition involves a total default of Rs 1,02,60,000, comprising Rs 90 lakh principal amount and Rs 12.6 lakh interest. Fort Cafe had provided a term loan of Rs 1.25 crore at 18% annual interest in September 2023, with Rs 90 lakh disbursed in tranches. Radhagobind Commercial, a BSE-listed trading company, had sought the loan for expenses related to a proposed rights issue to raise Rs 23.5 crore. The company made timely interest payments until March 2024 but defaulted thereafter for 213 days. The tribunal found that Radhagobind's annual report revealed all investments had become non-performing, loan assets turned into non-recoverable debts, and the company faced an income tax liability of Rs 3.5 crore. The court has initiated Corporate Insolvency Resolution Process and appointed Mr. Najeeb TP as Interim Resolution Professional. A moratorium has been imposed, and management control has been transferred to the IRP.

The National Company Law Tribunal (NCLT) Kolkata has admitted a petition filed by Fort Cafe Food Services Pvt. Ltd against Radhagobind Commercial Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition relates to the company's default in repayment of a loan. The order was dated October 30, 2025. Radhagobind Commercial Limited, listed on BSE and Calcutta Stock Exchange, has informed the exchanges about this development and stated it will provide updates on further developments in the matter.

Radhagobind Commercial Limited submitted its integrated financial filing for the quarter ended June 30, 2025. The company's board meeting on August 14, 2025, approved the financial results and authorized Louis Jose to sign them. The company reported a default in payment of loan amount along with interest totaling Rs. 1.12 crore, though there were no defaults on debt securities. The company confirmed no deviation or variation in proceeds from public issues, rights issues, or preferential issues during the quarter. Total financial indebtedness stands at Rs. 1.12 crore.