# In Re: United Masterbatches Pvt. Ltd.

> NCLT judgment dated 2026-06-23. Citation: TCN-2026-NCLT-00585. United Masterbatches Pvt. Ltd., the Corporate Debtor, filed a petition under Section 10 of the…

- **Court:** NCLT
- **Order date:** 23 Jun 2026
- **Citation:** TCN-2026-NCLT-00585
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/in-re-united-masterbatches-pvt-ltd-sajju

## Summary

### Background

United Masterbatches Pvt. Ltd., the Corporate Debtor, filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its own Corporate Insolvency Resolution Process (CIRP). The application was filed through its authorized director, Mr. Debdip Ghosh, following a Board Resolution dated 24 January 2024. The company had availed various credit facilities from UCO Bank, accumulating a total financial debt of Rs. 4,82,00,801/-, and failed to service its debt obligations due to financial distress, leading to a Loan Recall Notice from UCO Bank.

## Facts

United Masterbatches Pvt. Ltd. (Corporate Debtor/Applicant) filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against itself.

The application was filed through its authorized director, Mr. Debdip Ghosh, pursuant to a Board Resolution dated 24 January 2024.

The Corporate Debtor was incorporated on 25 October 2006.

The Corporate Applicant availed various credit facilities from UCO Bank, India Exchange Place Branch, Kolkata.

The total financial debt outstanding is Rs. 4,82,00,801/-, comprising principal of Rs. 4,64,00,000/- and interest of Rs. 18,00,801/-.

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## Issues and analysis

### Issue 1: Whether the Corporate Applicant has established the existence of debt and default as required under …

**Ratio:** The NCLT found that the Corporate Applicant had availed credit facilities from UCO Bank,

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**Reasoning:** The Corporate Applicant provided comprehensive documentation including audited financial

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**Interpretation:** Section 10 of the IBC allows a corporate applicant to initiate CIRP if it has

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**Application:** The evidence presented, including financial records, security documents, the

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Respondents:** United Masterbatch…
- **Other parties:** Debdip…; UCO B…; +1 more
- **Advocates:** Shaunak Mitra,…; Riyanshu Agarwal,…

## Timeline

- **2006-10-25 — Incorporation of…**: United Masterbatches Pvt. Ltd. was incorporated…
- **2022-10-13 — Credit Facilities…**: Term Loan Agreement and Composite Deed of Hypothecation were executed, securing credit…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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