Supreme Court of India

UV ASSET RECONSTRUCTION COMPANY LIMITED versus ELECTROSTEEL CASTINGS LIMITED

2026 INSC 14

Case number: CIVIL APPEAL No. 9701/2024
Judgment date: 2026-01-06
Petitioner / appellant: UV ASSET RECONSTRUCTION COMPANY LIMITED
Respondent: ELECTROSTEEL CASTINGS LIMITED
Neutral citation: 2026 INSC 14
Other citation: [2026] 1 S.C.R. 130
CNR: ESCR010000062026
Bench / judges: SANJAY KUMAR
Author judge: SANJAY KUMAR
Bench size: 2 Judges
Disposal nature: Dismissed
Judgment year: 2026

Issue for consideration

Issue pertains to the interpretation of Clause 2.2 of Deed of Undertaking executed between SREI-original creditor, which subsequently assigned all its rights and interests in favour of the appellant; ESL-borrower; and ECL-erstwhile promoter of ESL and obligor in and whether Clause 2.2 constitutes a contract of guarantee within the meaning of s.126 of the Contract Act, 1872 thereby rendering ECL as a guarantor to SREI in respect of financial facilities availed by ESL from SREI.

Headnote excerpt

Insolvency and Bankruptcy Code, 2016 –

Full Judgement details :

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