# Gargo Motors Ltd. vs. N/A

> NCLT judgment dated 2026-09-03. Citation: TCN-2026-NCLT-00922. Gargo Motors Ltd., a public limited company and authorized dealer of Tata Motors Limited, filed…

- **Court:** NCLT
- **Order date:** 3 Sept 2026
- **Citation:** TCN-2026-NCLT-00922
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-guwahati/gargo-motors-ltd-7qczn

## Summary

### Background

Gargo Motors Ltd., a public limited company and authorized dealer of Tata Motors Limited, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against itself. The company cited its inability to discharge financial and operational liabilities, including a financial debt of ₹1,07,60,711/- to Tata Motors Finance Limited (evidenced by an arbitral award) and statutory GST liabilities to the Central Goods and Services Tax Department. The company's directors and members had passed resolutions to initiate CIRP.

## Facts

Gargo Motors Ltd. (Corporate Applicant) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The application seeks initiation of Corporate Insolvency Resolution Process (CIRP) against itself due to its inability to discharge financial and operational liabilities.

Gargo Motors Ltd. is a public limited company incorporated on 2nd June 1997 under the Companies Act, 1956.

The company is registered with the Registrar of Companies, Guwahati, bearing CIN No. U50101AS1997PLC005081.

Its registered office is situated at A.T. road, Hijuguri, Tinsukia, Assam-786125.

The Nominal Share Capital of the Corporate Debtor is Rs.2,00,00,000.00, and the paid-up Share Capital is Rs.1,64,50,000.00.

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## Issues and analysis

### Issue 1: Whether the Corporate Applicant has committed a default and whether the amount of such default …

**Ratio:** A corporate debtor may file an application for initiating CIRP under Section 10 of the

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**Reasoning:** The Corporate Applicant, Gargo Motors Ltd., disclosed Tata Motors Finance Limited as its

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**Interpretation:** Section 10 of the IBC provides a mechanism for a corporate debtor to initiate

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**Application:** In the present case, Gargo Motors Ltd. has clearly established a financial

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## Parties

- **Judges:** Rammurti Ku…; Yogendra Kumar…
- **Respondents:** Gargo Motor…
- **Other parties:** Krishna Bor…; Mili Bort…; +5 more
- **Advocates:** Vedika S…

## Timeline

- **1997-06-02 — Incorporation of…**: Gargo Motors Ltd. was incorporated as a public limited company under the provisions of…
- **2019-02-21 — Agreement for Promotion…**: An Agreement for Promotion of Tata Vehicles through Finance Scheme was executed between…

## 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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