# In the matter of Cosmic CRF Limited vs. Myotic Trading Private Limited & Ors.

> NCLAT judgment dated 2026-03-12. Citation: TCN-2026-NCLAT-00041. Cosmic CRF Limited filed an application seeking recall of a judgment declaring them…

- **Court:** NCLAT
- **Order date:** 12 Mar 2026
- **Citation:** TCN-2026-NCLAT-00041
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/cosmic-crf-limited-vs-myotic-trading-private-limited-ors-114cc50d

## Summary

### Background

Cosmic CRF Limited filed an application seeking recall of a judgment declaring them ineligible under Section 29A of the Insolvency and Bankruptcy Code (IBC) to participate in the Corporate Insolvency Resolution Process (CIRP) of Amzen Transportation Industries Ltd.

## Facts

Amzen Transportation Pvt. Ltd. was incorporated on July 7, 2008.

IDBI Bank Ltd. filed an application under Section 7 of the IBC against Amzen Transportation Pvt. Ltd.

The NCLT admitted the Company Petition No. (IB)-3 (ND) /2020 on May 4, 2022, initiating CIRP for Amzen Transportation Pvt. Ltd.

Deepak Maini was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.

Cosmic CRF Limited submitted a resolution plan for Amzen Transportation Industries Ltd.

Concerns were raised about Cosmic CRF Limited's eligibility under Section 29A of the IBC due to its connections with Cosmic Ferro Alloys Ltd. (CFAL).

AHSK & Co. Ltd. and Priyanka Sharma & Associates (PSA) were appointed to assess Cosmic CRF Limited's eligibility.

…

## Issues and analysis

### Issue 1: Whether Cosmic CRF Limited is eligible …

**Ratio:** Section 29A(c) disqualifies a person from submitting a resolution plan if they have an

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**Reasoning:** The tribunal analyzed the connections between Cosmic CRF Limited and CFAL, noting that

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**Interpretation:** The tribunal interpreted Section 29A(c) to mean that the disqualification

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**Application:** The tribunal found that Aditya Vikram Birla and related parties had significant

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## Parties

- **Judges:** Mohammad Faiz…; Arun Ba…
- **Appellants:** Cosmic CRF…
- **Respondents:** Amzen Transportati…; Myotic Trading…; +6 more
- **Other parties:** Aditya Vikram…; Ravi B…; +8 more
- **Advocates:** Abhinav V…; Anand V…; +28 more

## Timeline

- **2008-07-07 — Incorpor…**: Amzen Transportation Pvt.…
- **N/A — Section 7 App…**: IDBI Bank Ltd. filed an application under Section 7 of the IBC against Amzen…

## 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)

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