# In the matter of Eskay K 'N' IT (India) Limited

> NCLT judgment dated 2025-11-28. Citation: TCN-2025-NCLT-01817. The Interlocutory Application was filed by the erstwhile Resolution Professional (RP) of the…

- **Court:** NCLT
- **Order date:** 28 Nov 2025
- **Citation:** TCN-2025-NCLT-01817
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/eskay-k-n-it-india-limited-3242a50a

## Summary

### Background

The Interlocutory Application was filed by the erstwhile Resolution Professional (RP) of the Corporate Debtor, Eskay K 'N' IT (India) Ltd., under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, for liquidation of the Corporate Debtor and seeking direction to the Committee of Creditors (CoC) for disbursing unpaid Corporate Insolvency Resolution Professional (CIRP) Cost. The CIRP commenced pursuant to the admission of a petition filed by Bank of India.

## Facts

The CIRP of the Corporate Debtor commenced pursuant to the admission of CP(IB) No. 420/7/NCLT/AHM/2018 filed by Bank of India, vide order dated 17.02.2020.

Mr. Vikas Prakash Gupta was appointed as the Interim Resolution Professional (IRP).

The CoC was duly constituted on 16.03.2020.

The CoC resolved to replace the IRP with Mr. Subrata Monindranath Maity, the erstwhile Resolution Professional, vide order dated 20.08.2020.

The CoC approved filing of an application under Section 33(a) and appointment of Mr. Ajit Kumar as Liquidator in the 8th CoC meeting dated 25.06.2021.

The Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) suspended the registration of the erstwhile RP and directed the CoC to discontinue his services.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Section 33(2) of IBC

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**Reasoning:** The CoC, with the approval of COC under Sec 33(2) of IBC 2016, submitted the proposal for

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**Interpretation:** The Tribunal can approve the liquidation of the Corporate Debtor if the CoC

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**Application:** The Tribunal approved the

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Ajit K…
- **Respondents:** Eskay K' N' IT…; Eskay K 'N' IT…; +10 more
- **Other parties:** Vikas Prakash…; Subrata Monindrana…; +1 more
- **Advocates:** Atul Sh…

## Timeline

- **17.02.2020 — Order Da…**: Tribunal admitted CP(IB) No.…
- **24.02.2020 — Public Annou…**: Public announcement was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

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