# Surya Bakery And Confectionery Private Limited vs. N/A

> NCLT judgment dated 2026-08-31. Citation: TCN-2026-NCLT-00905. Surya Bakery and Confectionery Pvt. Ltd. (Corporate Applicant/Debtor) filed an application…

- **Court:** NCLT
- **Order date:** 31 Aug 2026
- **Citation:** TCN-2026-NCLT-00905
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/surya-bakery-and-confectionery-private-limited-lgi7v

## Summary

### Background

Surya Bakery and Confectionery Pvt. Ltd. (Corporate Applicant/Debtor) filed an application under Section 10 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company reported a financial debt of Rs. 17,85,81,0401- to five financial creditors and certain operational creditors, along with an operational debt of Rs. 1,43,13,787/-. The Corporate Debtor attributed its inability to repay debts to severe business disruptions and substantial losses, particularly during the COVID-19 pandemic, which severely impacted the food and hospitality sector. The company's plant and machinery were auctioned and sold by Indian Bank in April 2022, and it incurred continuous losses from FY 2018-19 to FY 2021-22, rendering the business

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## Facts

Surya Bakery and Confectionery Pvt. Ltd. (Corporate Applicant) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Applicant sought to initiate Corporate Insolvency Resolution Process (CIRP) against itself.

The Corporate Applicant committed default in paying a financial debt of Rs. 17,85,81,0401- to five financial creditors and certain operational creditors.

The Corporate Debtor was unable to repay outstanding dues to Financial Creditors due to severe business disruptions, particularly during the COVID-19 pandemic.

The company, engaged in the bakery and confectionery business, suffered substantial losses as the food and hospitality sector was severely affected.

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## Issues and analysis

### Issue 1: Whether Surya Bakery and Confectionery Pvt. Ltd. (Corporate Applicant) has committed a default in …

**Ratio:** A default in financial and operational debt, coupled with continuous losses and asset

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**Reasoning:** The application stated a financial debt of Rs. 17,85,81,0401- and operational debt of Rs.

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**Interpretation:** The NCLT accepted the applicant's submission of default based on the financial

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**Application:** The Corporate Debtor has indeed committed default on its financial and

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Surya Bakery And…
- **Respondents:** Surya Bakery and…; Surya Bakery and…
- **Other parties:** Indian…; Cholamandalam…; +5 more
- **Advocates:** Manoj M…

## Timeline

- **2015-09-24 — Sanction…**: Copy of Sanction Letter…
- **2022-02-16 — SARFAESI…**: Copy of notice under section…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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