NATIONAL COMPANY LAW TRIBUNAL, KOLKATA BENCH
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The NCLT Kolkata Bench has admitted a Section 7 insolvency petition filed by Fort Café Food Services Pvt. Ltd. against BSE-listed Radhagobind Commercial Ltd for a default of Rs. 1.02 crore (principal of Rs. 90 lakh plus interest of Rs. 12.60 lakh) on an unsecured term loan of Rs. 1.25 crore taken in September 2023. The company had borrowed to fund a planned Rights Issue, which did not materialise, and it stopped making payments after March 2024. The Tribunal has ordered a moratorium under Section 14 of the IBC, appointed Mr. Najeeb T P as the Interim Resolution Professional, and the company's management has been handed over to the IRP. The matter is next listed on 3 December 2025 for a progress report.
This is a materially negative event for shareholders — insolvency proceedings have formally commenced, a moratorium is in place restricting asset transfers and actions against the company, and existing management has been suspended. Trading in the stock may face restrictions as CIRP progresses, and shareholders risk significant dilution or loss of value depending on the resolution plan or liquidation outcome.