NCLT Hyderabad dismissed Karne Ramesh Babu's Section 7 IBC petition against Kalzen Contech Pvt Ltd seeking CIRP initiation for alleged default of ₹5.98 crore.
Tribunal ruled disputed amounts were equity investments, not financial debt, lacking consideration for time value of money essential under IBC Section 5(8).
Petitioner claimed ₹1.98 crore disbursements and ₹3 crore premium via MoA, but contradictory FIR statements undermined loan claim veracity.
Dismissal was on merits after finding no financial debt existence, with earlier petition rejection on technical grounds not res judicata.