# Mr. Sunit Shah, Liquidator of Eternal Motors Pvt. Ltd. vs. Eternal Motors Private Limited

> NCLT judgment dated 2026-10-07. Citation: TCN-2026-NCLT-01252. The application, IA(Dis.)/16(AHM)/2026, was filed by Mr. Sunit Jagdishchandra Shah, Liquidator…

- **Court:** NCLT
- **Order date:** 7 Oct 2026
- **Citation:** TCN-2026-NCLT-01252
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/eternal-motors-private-limited-huvle

## Summary

### Background

The application, IA(Dis.)/16(AHM)/2026, was filed by Mr. Sunit Jagdishchandra Shah, Liquidator of Eternal Motors Private Limited, seeking dissolution of the Corporate Debtor and condonation of a 24-day delay in filing. The Corporate Debtor was admitted under IBC Section 10 on 10.08.2022 and ordered to be liquidated on 13.09.2023. An earlier dissolution application was dismissed due to pending PUFE (Preferential, Undervalued, Fraudulent, Extortionate) proceedings. The erstwhile Liquidator, Mr. Nimai Gautam Shah, had his registration suspended, leading to the appointment of Mr. Sunit Jagdishchandra Shah as the new Liquidator on 16.09.2026.

## Facts

The present Application IA(Dis.)/16(AHM)2026 has been filed under Section 54, 60(5) of Insolvency and Bankruptcy Code, 2016 read with Regulation 44, 44A, 45 of the IBBI (Liquidation Process) Regulations, 2016 and Rule 11 of NCLT Rules, 2016.

The Application seeks dissolution of the Corporate Debtor, M/s. Eternal Motors Private Limited, and condonation of delay of 24 days in filing the Application.

The Application was filed on 06.07.2026 after expiry of the extended liquidation period on 12.06.2026.

C.P.(IB) No. 135(AHM)/2021 was admitted under Section 10 of the Code on 10.08.2022.

The Corporate Debtor was ordered to be liquidated by order dated 13.09.2023 passed in I.A. No. 607/2023, whereby Mr. Nimai Gautam Shah was appointed as Liquidator.

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor, M/s. Eternal Motors Private …

**Ratio:** The Adjudicating Authority shall order dissolution if the assets of the Corporate Debtor

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**Reasoning:** The Applicant/Liquidator has placed on record the liquidation accounts, Final Report,

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**Interpretation:** Section 54(1) and 54(2) of the IBC, along with Regulation 45 of the IBBI

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**Application:** The Liquidator has submitted all required documents, including the Final Report

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## Parties

- **Judges:** SHAMMI KHAN,…; SANJEEV SHARMA,…
- **Appellants:** Subodhkuma…; suspended…; +1 more
- **Respondents:** M/s. Eternal…; Eternal Motors…; +1 more
- **Other parties:** CoC…; Committee of…; +9 more
- **Advocates:** Kamil Lokha…; Ld. Counsel for…

## Timeline

- **2022-08-10 — Admission o…**: C.P.(IB) No. 135(AHM)/2021 was…
- **2023-09-13 — Liquidation Order and…**: Corporate Debtor ordered to be liquidated in I.A. No. 607/2023; Mr. Nimai Gautam Shah…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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