# In the matter of Bremels Rubber Industries Private Limited

> NCLT judgment dated 2025-09-26. Citation: TCN-2025-NCLT-01446. Bremels Rubber Industries Private Limited filed a petition under Section 10 of the Insolvency…

- **Court:** NCLT
- **Order date:** 26 Sept 2025
- **Citation:** TCN-2025-NCLT-01446
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/bremels-rubber-industries-private-limited-5f210c6b

## Summary

### Background

Bremels Rubber Industries Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, for voluntary initiation of Corporate Insolvency Resolution Process (CIRP). The petition was filed due to severe operational and financial distress following the Covid-19 pandemic.

## Facts

Bremels Rubber Industries Private Limited filed a petition under Section 10 of the IBC for voluntary initiation of CIRP.

The company's petition was triggered by financial distress following the COVID-19 pandemic.

The company defaulted on financial debt from 27.05.2022 and on operational debt from 15.03.2023.

Creditor No. 121 alleged that the company acted maliciously in filing the petition to evade payment of lawful dues and disposed of assets to defeat creditor claims.

SCDCC Bank, a secured creditor, opposed the petition, claiming that the company misrepresented its financial condition and concealed material facts.

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## Issues and analysis

### Issue 1: Whether the petition filed by Bremels Rubber Industries Private Limited under Section 10 of the IBC …

**Ratio:** The Tribunal is guided by the settled law that, upon satisfaction of the existence of

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**Reasoning:** The NCLT found that the petitioner had disclosed a cumulative debt above the threshold,

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**Interpretation:** The existence of debt and default, coupled with compliance with procedural

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**Application:** In this case, the NCLT found that the existence of debt and default was

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Bremels Rubber…; M/s. Bremels…
- **Respondents:** Bremels Rubber…
- **Other parties:** Adith B S…; Ratnakar…
- **Advocates:** Anirudh S…; Mohammad Mo…; +2 more

## Timeline

- **2024-02-22 — Petition…**: Petition for voluntary initiation of CIRP was filed by Bremels Rubber Industries Private…
- **2025-09-26 — Order Del…**: Order delivered by the NCLT admitting…

## 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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