NCLT Kolkata admits Shevin Capital Services into insolvency over Rs 1.15 crore claim

The National Company Law Tribunal's Kolkata bench on 3 November 2026 admitted Shevin Capital Services Private Limited into the corporate insolvency resolution process. It acted on a petition by Aryan Mining and Trading Corporation Private Limited, which claimed Rs 1,14,76,223 (about Rs 1.15 crore), including interest, as outstanding.

What Happened

According to the order, the petitioner said it lent Rs 75 lakh to Shevin Capital Services on 17 January 2017 for business expansion, initially at 9% interest a year. It relied on bank statements, a confirmation of accounts dated 1 April 2017 acknowledging Rs 76,23,164 as due, tax records showing part-payments between April 2018 and April 2024, and a record of default with an information utility. It sent a demand notice on 17 June 2025.

Shevin Capital Services opposed the petition. It said the Rs 75 lakh was not a loan but was paid in connection with two flats in Kolkata that the petitioner had agreed to buy, and towards their interiors, and that there was no loan agreement or agreed interest. It also disputed the amount, the date of default and the limitation period, and said it was a solvent, going concern.

The tribunal admitted the petition. In its order it cited Supreme Court rulings that, at the admission stage, the tribunal only has to satisfy itself that a debt exists and a default has occurred, and that the process is summary in nature. It appointed an interim resolution professional, declared a moratorium and directed a public announcement within three days. The matter is next listed on 10 December 2026.

What It Means

Admission into insolvency is not a finding of fraud or mismanagement. During the moratorium, suits, recovery actions and enforcement of security against the company are on hold, and its management passes to the interim resolution professional. Creditors, employees and suppliers of the company should look for the public announcement and file their claims within the time it sets. The order may be appealed to the National Company Law Appellate Tribunal.

Source: NCLT order