# In the matter of SUSTAINABLE OUTREACH AND UNIVERSAL LEADERSHIP LIMITED

> NCLT judgment dated 2026-01-16. Citation: TCN-2026-NCLT-00029. Tata Capital Limited filed an application under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 16 Jan 2026
- **Citation:** TCN-2026-NCLT-00029
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/sustainable-outreach-and-universal-leadership-limited-52a08192

## Summary

### Background

Tata Capital Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Sustainable Outreach and Universal Leadership Soul Limited, the Corporate Debtor, due to defaults in repayment of a financial debt.

## Facts

Tata Capital Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Debtor, Sustainable Outreach and Universal Leadership Soul Limited, defaulted on repayment of a Channel Finance facility.

The Financial Creditor sanctioned a Channel Finance facility of Rs. 2,50,00,000/- at 10.90% p.a. for 12 months.

The Corporate Debtor's account was classified as a Non-Performing Asset (NPA) on 10.02.2025.

The Financial Creditor issued a Notice for Recall of Loan and Invocation of Arbitration dated 21.02.2025.

The Financial Creditor filed an application under Section 11 of the Arbitration and Conciliation Act, 1996, before the Hon'ble High Court at Calcutta.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a …

**Ratio:** Yes, the Corporate Debtor

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**Reasoning:** The Corporate Debtor failed to adhere to the repayment schedule despite multiple requests

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**Interpretation:** The failure to repay the debt constitutes a 'default' as defined under the

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**Application:** The Adjudicating Authority considered the evidence of default, including the

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## Parties

- **Judges:** Deep Chandr…; Banwari Lal…
- **Appellants:** Tata Capital…
- **Respondents:** Sustainable…
- **Other parties:** Tata Capital…; Vikky…
- **Advocates:** Ankita Ag…

## Timeline

- **2024-05-10 — Applicatio…**: Application for Channel Finance was applied…
- **2024-05-23 — Sanction Lett…**: Channel Finance was sanctioned by the Financial Creditor via Sanction Letter dated…

## 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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