# In the matter of ESKAY K 'N' IT (INDIA) LIMITED

> NCLT judgment dated 2025-11-28. Citation: TCN-2025-NCLT-01724. The Interlocutory Application was filed by Mr. Subrata Monindranath Maity, the erstwhile…

- **Court:** NCLT
- **Order date:** 28 Nov 2025
- **Citation:** TCN-2025-NCLT-01724
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/eskay-k-n-it-india-limited-45075b26

## Summary

### Background

The Interlocutory Application was filed by Mr. Subrata Monindranath Maity, the erstwhile Resolution Professional (RP) of Corporate Debtor M/s Eskay K 'N' IT (India) Ltd. under Section 33(1), 33(2) and 34(1) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of National Company Law Rules, 2016 for liquidation of the Corporate Debtor and for seeking direction to the Committee of Creditors (CoC) for disbursing unpaid Corporate Insolvency Resolution Professional (CIRP) Cost.

## Facts

The CIRP of the Corporate Debtor commenced pursuant to admission of CP(IB) No. 420/7/NCLT/AHM/2018 petition 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.

The replacement was approved by this Tribunal vide order dated 20.08.2020.

The CoC unanimously formed the view that the likelihood of receiving any resolution plan was negligible and resolved to initiate liquidation of the Corporate Debtor.

Bank of India suggested the name of Mr. Ajit Kumar as liquidator.

…

## Issues and analysis

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

**Ratio:** Based on the CoC's decision and the

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**Reasoning:** The CoC unanimously formed the view that the likelihood of receiving any resolution plan

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**Interpretation:** Section 33 of the IBC allows for

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**Application:** The Tribunal allowed the application for

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Ajit K…
- **Respondents:** Eskay K' N' IT…; Committee of…; +8 more
- **Other parties:** Subrata Monindrana…; Vikas Prakash…; +1 more
- **Advocates:** Atul Sh…

## Timeline

- **2018 — CP(IB) No. 420…**: Case number assigned to the…
- **2020-02-17 — Admission of CP(IB) No.…**: Petition filed by Bank…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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