Supreme Court · 2026 INSC 14 · Decided 6 January 2026
Uv Asset Reconstruction Company Limited v. Electrosteel Castings Limited
- Court
- Supreme Court of India
- Citation
- 2026 INSC 14 · [2026] 1 S.C.R. 130
- Case number
- CIVIL APPEAL No. 9701/2024
- Decided
- 6 January 2026
- Bench
- SANJAY KUMAR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 126; IBC
Headnote
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. Insolvency and Bankruptcy Code, 2016 -
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