# In the matter of New India Color Company Ltd. vs. Samtex Desinz Pvt. Ltd. (In CIRP) & Anr.

> NCLAT judgment dated 2025-01-03. Citation: TCN-2025-NCLAT-00291. The appeal was filed against an order dated 14.09.2022 passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 3 Jan 2025
- **Citation:** TCN-2025-NCLAT-00291
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/new-india-color-company-ltd-vs-samtex-desinz-pvt-ltd-d0ce61af

## Summary

### Background

The appeal was filed against an order dated 14.09.2022 passed by the National Company Law Tribunal ('Tribunal') dismissing an Interlocutory Application bearing IA No. 2144/2022 filed in Company Petition No. (IB) – 908/ND/ 2020 by the Appellant under Section 60(5) r/w Section 73 of the Insolvency & Bankruptcy Code, 2016. The appellant sought various reliefs, including a stay on the working of the Committee of Creditors (COC), suspension of the Resolution Professional, a declaration that Orator Marketing Private Limited is a related party, and a direction for fresh formation of the COC.

## Facts

New India Color Company Ltd. filed an appeal against an order dated 14.09.2022 passed by the National Company Law Tribunal (NCLT). The NCLT order dismissed an Interlocutory Application (IA No. 2144/2022) filed by the Appellant in Company Petition No. (IB) – 908/ND/ 2020. The application was filed under Section 60(5) r/w Section 73 of the Insolvency & Bankruptcy Code, 2016. The appellant sought various reliefs, including a stay on the working of the Committee of Creditors (COC), suspension of the Resolution Professional, a declaration that Orator Marketing Private Limited is a related party, and a direction for fresh formation of the COC. During the hearing, the appellant restricted the prayer to declaring Orator Marketing Private Limited as a related party and

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## Issues and analysis

### Issue 1: Whether the present appeal is maintainable considering the Corporate Debtor has already been …

**Ratio:** The dissolution of a Corporate Debtor under Section 54 of the IBC brings the corporate

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**Reasoning:** The court relied on the submission of the respondent's counsel that the Corporate Debtor

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**Interpretation:** Section 54 of the IBC provides for the dissolution of a Corporate Debtor after

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**Application:** In this case, the Corporate Debtor, Samtex Desinz Private Ltd., had already

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…
- **Appellants:** New India Color…
- **Respondents:** Samtex Desinz…
- **Advocates:** Manish R…; Shivaansh…; +2 more

## Timeline

- **2022-09-14 — NCLT Ord…**: National Company Law Tribunal passed an order dismissing Interlocutory Application…
- **2024-07-08 — Dissolution…**: Ld. NCLT passed an order dissolving the Corporate Debtor, Samtex Desinz Private Ltd.,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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