BSBrainbees Solutions544226CIRP or IBC

NCLT rejects Section 7 IBC application against material subsidiary Globalbees; matter dismissed

NCLT, New Delhi Bench, has rejected the Section 7 IBC application against Globalbees Brands, a material subsidiary, and dismissed the matter.

By ScoutQuest · Tue 13 Oct 2026, 7:10 PM IST · 2 min read

Alleged Claim Amount

INR 64.92 crore

Interest Sought

18% p.a. from May 9, 2025

NCLT Order Pronounced

October 09, 2026

The company has informed the exchanges that the National Company Law Tribunal (NCLT), New Delhi Bench, has rejected the application shared under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Globalbees Brands Private Limited, and dismissed the matter.

What had been shared

Ashutosh Garg, Paritosh Garg and Manju Agarwal had jointly shared the application under Section 7 of the IBC against Globalbees Brands Private Limited, which the company describes as a material subsidiary of Brainbees Solutions Limited. The update puts the alleged claim at INR 64.92 crore along with interest at 18% p.a. accruing from May 9, 2025 until the date of actual payment.

What a Section 7 application is

• Section 7 of the IBC is the route a financial creditor uses to ask the NCLT to start a corporate insolvency resolution process against a company.
• If such an application were admitted, it would set in motion a formal insolvency process for that company.
• In this case, the NCLT rejected the application and dismissed the matter, so that process does not begin.

Timeline given in the update

• The NCLT order was pronounced on October 09, 2026.
• The order was uploaded on the NCLT website on October 13, 2026.
• The company says it received an e-mail of the same date, October 13, 2026, from Globalbees informing it of the outcome.
• The company's earlier intimation on this matter was dated June 17, 2025.

How to read it

This is an update on a legal proceeding that had already been disclosed to the exchanges. The application against Globalbees Brands Private Limited has been rejected and the matter dismissed by the NCLT. The update states the alleged claim amount and the interest rate that had been sought, and records the outcome of the application.

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