# In the matter of EUPHORIA TECHNOLOGIES PRIVATE LIMITED

> NCLT judgment dated 2026-01-30. Citation: TCN-2026-NCLT-00123. The application was filed in compliance with the tribunal's order dated 08.01.2026, directing…

- **Court:** NCLT
- **Order date:** 30 Jan 2026
- **Citation:** TCN-2026-NCLT-00123
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/euphoria-technologies-private-limited-3f593978

## Summary

### Background

The application was filed in compliance with the tribunal's order dated 08.01.2026, directing the applicant to proceed with the liquidation of the Corporate Debtor (CD). The 9th Monitoring Committee of COC convened on 13.01.2026, discussed the matter and resolved to proceed with liquidation.

## Facts

The application was filed in compliance to the orders of the tribunal dated 8.01.2026.

The 9th Monitoring Committee of COC convened on 13.01.2026 and resolved to proceed for liquidation.

The application was filed under Sec 33 and 334(1) of the IBC 2016.

The COC approved the liquidation with 100% voting.

Mr. Bhavik Haribhai Rupapara was appointed as the liquidator.

The monitoring committee has not recommended any action on the SRA who has failed to meet the plan conditions to be proceeded under Sec 74(3) of the IBC 2016.

## Issues and analysis

### Issue 1: Whether the application for liquidation should be allowed due to non-implementation of the …

**Ratio:** Sec 33 and 334(1) of

…

**Reasoning:** The tribunal considered the non-implementation of the resolution plan and the COC's

…

**Interpretation:** The tribunal interpreted the provisions of the IBC 2016 to allow for

…

**Application:** The tribunal applied the provisions of Sec 33 and 334(1) of the IBC 2016 to

…

## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Manpower Group…
- **Respondents:** Euphoria Technolog…
- **Other parties:** Bhavik Haribhai…; Varun C…; +2 more
- **Advocates:** Nipun Si…; Rahul Bh…

## Timeline

- **2026-01-08 — Tribunal…**: Tribunal directs the applicant to proceed with the liquidation of the CD in IA 960 OF…
- **2026-01-13 — COC Meet…**: 9th Monitoring Committee of COC convened…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-ahmedabad/euphoria-technologies-private-limited-3f593978