Case of UV Asset Reconstruction Company Ltd vs Electrosteel Castings Limited, SC Judgement Dated 6th January 2026. The apex court held that Clause 2.2 of the Deed of Undertaking did not constitute a guarantee under Section 126 of the Indian Contract Act, as it only obliged ECL to arrange funds for compliance with financial covenants, not to discharge ESL’s debt. It also ruled that approval of ESL’s resolution plan did not extinguish debt against third-party security providers like ECL, as the plan explicitly preserved creditors rights against them.