The National Company Law Tribunal (NCLT), Kolkata, has admitted an insolvency petition against Radhagobind Commercial Limited , a BSE-listed trading company, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition, filed by Fort Cafe Food Services Pvt. Ltd., involves a total default of Rs 1.03 crore.

Key Details of the Case

Background of the Loan

Radhagobind Commercial Limited had secured a term loan of Rs 1.25 crore from Fort Cafe Food Services in September 2023. The loan was intended to cover 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.

NCLT Findings

The tribunal's investigation revealed several concerning factors about Radhagobind Commercial's financial health:

1. All investments had become non-performing
2. Loan assets turned into non-recoverable debts
3. The company faced an income tax liability of Rs 3.5 crore

NCLT Order

Based on these findings, the NCLT has:

1. Initiated the Corporate Insolvency Resolution Process (CIRP)
2. Appointed Mr. Najeeb TP as the Interim Resolution Professional (IRP)
3. Imposed a moratorium on the company
4. Transferred management control to the IRP

Implications

This development signals significant financial distress for Radhagobind Commercial Limited. The admission of the insolvency petition and the commencement of CIRP will have far-reaching consequences for the company's operations, stakeholders, and potential investors.

The case underscores the importance of financial due diligence and the potential risks associated with corporate lending, especially when funds are tied to speculative activities such as rights issues.

As the CIRP progresses, creditors, shareholders, and other stakeholders of Radhagobind Commercial Limited will need to closely monitor the proceedings and any potential resolution plans that may be proposed.

Radhagobind Commercial , a company listed on both the BSE and Calcutta Stock Exchange, has found itself in a challenging situation as the National Company Law Tribunal (NCLT) Kolkata admitted an insolvency petition against it. This development marks a significant turn of events for the company, potentially impacting its operations and financial standing.

Key Details of the NCLT Order

The insolvency petition, filed by Fort Cafe Food Services Pvt. Ltd, was admitted by the NCLT under Section 7 of the Insolvency and Bankruptcy Code, 2016. The order, dated October 30, 2025, comes in response to Radhagobind Commercial's default in repaying a loan.

Company's Response

In compliance with regulatory requirements, Radhagobind Commercial has promptly informed the stock exchanges about this development. The company stated in its filing:

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Hon'ble National Company Law Tribunal (NCLT), KOLKATA, has admitted the petition filed by Fort Café Food Services Pvt. Ltd under Section 7 of the IBC, 2016, vide order dated 30-10-2025. The petition pertains to the default in repayment of loan taken by the company."

Implications and Next Steps

The admission of an insolvency petition by the NCLT is a serious matter that could have far-reaching consequences for Radhagobind Commercial. This development may:

1. Initiate the corporate insolvency resolution process (CIRP)
2. Lead to the appointment of an interim resolution professional
3. Potentially affect the company's day-to-day operations
4. Impact relationships with creditors and stakeholders

Radhagobind Commercial has committed to keeping the exchanges informed of further developments in this matter. The company secretary, Vinay Somani, signed off on the regulatory filing, assuring stakeholders of timely updates.

About Radhagobind Commercial

Radhagobind Commercial, formerly known as Tejmangal Commercial Company Limited, is headquartered in Kolkata.

Investors and stakeholders are advised to closely monitor further announcements from the company and regulatory bodies as this situation unfolds.