# In the matter of VURUPA TRADING PRIVATE LIMITED

> NCLT judgment dated 2026-04-15. Citation: TCN-2026-NCLT-00361. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 15 Apr 2026
- **Citation:** TCN-2026-NCLT-00361
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/vurupa-trading-private-limited-8a78ad56

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Silbhadar Vyapaar Private Limited (Financial Creditor) against Vurupa Trading Private Limited (Corporate Debtor/Guarantor) to initiate the Corporate Insolvency Resolution Process (CIRP). The claim is based on a corporate guarantee provided by Vurupa Trading Private Limited for a debt owed by Kordash Handlers and Logistics Private Limited.

## Facts

Silbhadar Vyapaar Private Limited filed a petition under Section 7 of the I&B Code 2016 to initiate CIRP against Vurupa Trading Private Limited.

The petition was filed on 22.05.2025.

The claim is for a total outstanding of INR 68,74,79,669/-.

The Date of Default is 30.04.2024, when the demand notice was issued to the CD and Corporate Guarantee was invoked.

Somerset Infra Projects Pvt. Ltd. had disbursed a sum of INR 50,00,00,000/- to Winter Lands Pvt. Ltd. for the purpose of sourcing land.

Pursuant to an Assignment Agreement dated 20.03.2020, Somerset Infra Projects Pvt. Ltd. assigned the aforesaid debt of INR 63,89,81,010/- to the Financial Creditor.

…

## Issues and analysis

### Issue 1: Whether the petition is …

**Ratio:** The period of limitation commences from the date of invocation of the guarantee i.e.,

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**Reasoning:** The Financial Creditor issued a demand notice dated 30.04.2024 invoking the Corporate

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

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**Application:** The Adjudicating Authority applied the facts to the legal principles and

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Silbhadar Vyapaar…
- **Respondents:** Vurupa Trading…; Vurupa Trading…
- **Other parties:** Silbhadar Vyapaar…; Ashish…; +5 more
- **Advocates:** Tirth N…; Balaji…

## Timeline

- **2024-04-30 — Date of D…**: Demand notice was issued to the Corporate…
- **2025-05-22 — Petition…**: The petition under Section 7 of…

## 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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