# In the matter of Uttam Cylinders Private Limited

> NCLT judgment dated 2025-09-11. Citation: TCN-2025-NCLT-01403. Tata Capital Limited filed an application under Section 7 of the IBC, 2016, to initiate CIRP…

- **Court:** NCLT
- **Order date:** 11 Sept 2025
- **Citation:** TCN-2025-NCLT-01403
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/uttam-cylinders-private-limited-2f28794e

## Summary

### Background

Tata Capital Limited filed an application under Section 7 of the IBC, 2016, to initiate CIRP against Uttam Cylinders Private Limited, citing a default in debt repayment.

## Facts

Tata Capital Limited filed an application under Section 7 of IBC, 2016 to initiate CIRP against Uttam Cylinders Private Limited.

The total amount of debt granted was Rs. 25,00,00,000/-.

The amount claimed to be in default was Rs. 19,23,29,846/- as of 07.12.2024.

The Corporate Debtor acknowledged the amount of debt and offered to settle the same.

The Corporate Debtor defaulted on 05.09.2024 when an installment was not paid.

The NCLT considered the judgment of the Supreme Court in M. Suresh Kumar Reddy vs. Canara Bank & Ors. regarding the occurrence of default.

The NCLT considered the judgment of NCLAT in Nakul Bharana Vs. National Asset Reconstruction Company Limited regarding acknowledgement of debt.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor committed a default in payment of debt as per Section 3(12) of the …

**Ratio:** Default means non-payment of debt when whole or any part or installment of the amount of

…

**Reasoning:** The Corporate Debtor failed to pay the installment due on 05.09.2024, which constitutes a

…

**Interpretation:** The definition of default in IBC doesn't say that default can be perceived only

…

**Application:** The NCLT found that the Corporate Debtor committed a default in payment of debt

…

## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** Tata Capital…
- **Respondents:** Uttam Cylinders…
- **Other parties:** Karan B…; RAJESH RA…
- **Advocates:** Ekta Bh…; Aastha Tr…; +3 more

## Timeline

- **2025-09-11 — Order del…**: Order delivered on…
- **2025-09-04 — Hearing…**: On 04.09.2025, after hearing the submission made by the parties, including Mr. Prashant…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/uttam-cylinders-private-limited-2f28794e