The National Company Law Tribunal (NCLT), Mumbai Bench VI, has admitted an application filed by Tata Capital Housing Finance Limited to initiate Corporate Insolvency Resolution Process (CIRP) against Dharan Infra-EPC Limited. The financial creditor claimed a default amount of ₹28,04,91,115 as of May 20, 2025. The date of default was stated as February 7, 2023, coinciding with the classification of the loan account as NPA. Dharan Infra-EPC Limited had approached Tata Capital Housing Finance Limited for construction finance facilities totaling ₹35,00,00,000 in 2018 and an additional ₹45,00,00,000 in 2019. While the company acknowledged the debt and proposed settlement options, it also contended that substantial disputes were pending before the Hon'ble High Court, making the IBC petition non-maintainable. The NCLT, however, found that the existence of debt and default was conclusively demonstrated by the documents and acknowledgments on record, irrespective of pending arbitration proceedings. Consequently, the NCLT has admitted the application and declared a moratorium under Section 14 of the IBC. This prohibits the institution or continuation of suits against Dharan Infra-EPC Limited, restricts the transfer or encumbrance of its assets, and prevents the enforcement of any security interest. The moratorium will remain in effect until the completion of the CIRP or until further orders from the Tribunal.