# In the matter of Sustainable Outreach and Universal Leadership Soul Limited

> NCLT judgment dated 2026-01-16. Citation: TCN-2026-NCLT-00008. 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-00008
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/sustainable-outreach-and-universal-leadership-soul-limited-2552f9b4

## 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, extended a Channel Finance facility of Rs. 2,50,00,000/- to Sustainable Outreach and Universal Leadership Soul Limited, the Corporate Debtor.

The Channel Finance facility was sanctioned via a Sanction Letter dated 23.05.2024 at an interest rate of 10.90% p.a. for a tenure of 12 months.

A Loan cum Guarantee for Channel Finance dated 29.05.2024 was entered into by the parties.

The Corporate Debtor defaulted on the repayment schedule, leading to the account being classified as an NPA on 10.02.2025.

A Notice for Recall of Loan and Invocation of Arbitration was issued on 21.02.2025.

The Financial Creditor filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor defaulted on its …

**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 under the Insolvency and

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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…; MS ANKITA A…
- **Respondents:** Sustainable…
- **Other parties:** Affir…; Tata Capital…; +1 more
- **Advocates:** MS ANKITA A…

## Timeline

- **10.05.2024 — Applicatio…**: Application for Channel…
- **23.05.2024 — Sanction Lett…**: Sanction Letter for…

## 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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