In Absence Of Claims From Financial Or Operational Creditors, Liquidation Order Must Be Passed U/S 33 Of IBC: NCLT Bengaluru
Mohd Malik Chauhan
11 Aug 2025 3:35 PM IST
The National Company Law Tribunal (NCLT), Bengaluru Bench of Shri Sunil Kumar Aggarwal (Judicial Member) and Shri Radhakrishna Sreepada (Technical Member) has held that in the absence of any claims from either financial or operational creditors, due to lack of supporting documents to prove such claims and the inability to constitute the Committee of Creditors (CoC), liquidation of...
The National Company Law Tribunal (NCLT), Bengaluru Bench of Shri Sunil Kumar Aggarwal (Judicial Member) and Shri Radhakrishna Sreepada (Technical Member) has held that in the absence of any claims from either financial or operational creditors, due to lack of supporting documents to prove such claims and the inability to constitute the Committee of Creditors (CoC), liquidation of the corporate debtor can be ordered under Section 33 of the IBC.
The present application has been filed under section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Liquidation Proceedings against the Corporate Debtor due to non-submission of any claims either by Financial Creditors or Operational Creditors.
The Applicant submitted that when no claims are received against the Corporate Debtor, except from the petitioners who are directors and related parties, the constitution of the Committee of Creditors and continuation of the CIRP would serve no useful purpose.
The Tribunal noted that in the present case, since no claim was filed by the Operational Creditor and the Financial Creditors failed to file their claims despite their reminders. Furthermore, the suspended board failed to provide requisite documents for verification due to which the Committee of Creditors (CoC) could not be constituted. Relying on Sarthak Gupta & Dolly Gupta v. MLP Developers and Promoters Pvt. Ltd, it held that no purpose would be served by proceeding with the CIRP therefore it treated the present application under section 33(1) of the IBC and ordered the liquidation.
Accordingly, the present application was allowed.
Case Title: Kalpana Kamlesh Gandhi Interim Resolution Professional of M/s Konverge Healthcare Private Limited
Case Number:IA No. (Liq) 01/2025 In C.P. (IB) No. 133/BB/2023
Judgment Date: 25/07/2025