# In the matter of SIRI SMELTERS & ENERGY PRIVATE LIMITED

> NCLT judgment dated 2026-02-27. Citation: TCN-2026-NCLT-00189. M/s. Trust Metals & Minerals Enterprises, a Financial Creditor, filed a petition under Section…

- **Court:** NCLT
- **Order date:** 27 Feb 2026
- **Citation:** TCN-2026-NCLT-00189
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/siri-smelters-energy-private-limited-4afbf24d

## Summary

### Background

M/s. Trust Metals & Minerals Enterprises, a Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Siri Smelters & Energy Private Limited, the Corporate Debtor, for defaulting on a loan repayment.

## Facts

The Corporate Debtor was incorporated on 18.01.2011 and is in the business of manufacturing ferro alloys.

The Financial Creditor is a partnership firm represented by its partner, Shri Guttula Subbarao.

The Managing Director of the Corporate Debtor, Shri Sajja Naga Mohan, requested a loan from the Financial Creditor to meet outstanding electricity dues and working capital requirements.

A Loan Agreement was executed on 03.04.2024, with the Corporate Debtor availing a loan of Rs.4,50,00,000/- at an interest rate of 18% per annum.

The Financial Creditor disbursed the entire loan amount of Rs.4,50,00,000/- through online bank transfers.

The Loan Agreement stipulated that the entire outstanding principal and interest should be repaid on or before 31.08.2025.

…

## Issues and analysis

### Issue 1: Whether the present Petition is filed …

**Ratio:** The petition was filed within the

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**Reasoning:** The date of default was 31.08.2025, and the petition was e-filed and physically filed on

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**Interpretation:** The Adjudicating Authority considered the relevant dates and concluded that the

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**Application:** The limitation period was calculated from the date of default as per the Loan

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## Parties

- **Judges:** KISHORE VEMULAPALL…; UMESH KUMAR…
- **Appellants:** M/s. Trust Metals…
- **Respondents:** M/s. Siri…
- **Other parties:** Amara…; Krishna Kom…
- **Advocates:** M. Maharshi…; Bendi Rav…

## Timeline

- **2024-04-03 — Loan Agre…**: Loan Agreement executed between…
- **2024-04-03 — Disbursemen…**: Financial Creditor started…

## 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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