# UNITY SMALL FINANCE BANK LTD. vs. BRIGHT WESTECH SOLUTION PVT. LTD.

> NCLT judgment dated 2026-07-08. Citation: TCN-2026-NCLT-00619. Unity Small Finance Bank Ltd. (Financial Creditor) filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 8 Jul 2026
- **Citation:** TCN-2026-NCLT-00619
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/unity-small-finance-bank-ltd-vs-bright-westech-solution-pvt-ltd-hl4si

## Summary

### Background

Unity Small Finance Bank Ltd. (Financial Creditor) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Bright Westech Solution Pvt. Ltd. (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The application alleged a default amounting to Rs. 1,82,20,431.23/-, arising from a Vendor Finance Facility Agreement and an unsecured business loan. The Corporate Debtor contended that the default was due to non-payment by SYSKA LED Lights Private Limited (Anchor) and that SYSKA was already undergoing CIRP. They also raised the existence of an arbitration clause in the Vendor Finance Agreement.

## Facts

An application was filed on 05.07.2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Unity Small Finance Bank Ltd. (Applicant/Financial Creditor).

The application sought to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Bright Westech Solution Private Limited (Respondent/Corporate Debtor).

Unity Small Finance Bank Ltd. was incorporated on 25.08.2021.

Bright Westech Solution Private Limited was incorporated on 13.12.2017.

Mr Sapan Mohan Garg, with IBBI Registration No. IBBI/IP A-002/IP-N00315/2017-2018/1093, was proposed as the Interim Resolution Professional.

The total amount in default was Rs. 1,82,20,431.23/-, including principal, interest, and penal charges.

The Date of Default was mentioned as 21.01.2024.

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## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the IBC is within the prescribed period of …

**Ratio:** An application under Section 7 of the Insolvency and Bankruptcy Code, 2016, must be filed

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**Reasoning:** The date of default was identified as 21.01.2024, and the present application was filed

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**Interpretation:** The filing of the application on 05.07.2024 falls well within the three-year

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**Application:** The application is not barred by limitation and is therefore maintainable on

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** UNITY SMALL…
- **Respondents:** BRIGHT WESTECH…
- **Other parties:** Committee of…; Mr Sapan Mohan…; +2 more
- **Advocates:** Varsha Banerjee,…; Sh. Rajan Kumar…

## Timeline

- **2017-12-13 — Corporate Debtor…**: Bright Westech Solution Private Limited…
- **2021-08-25 — Applicant Inco…**: Unity Small Finance Bank Ltd.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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