# Mohit Bipinchandra Adatiya vs. Praveen Kumar Daruka & Anr.

> NCLT judgment dated 2026-07-29. Citation: TCN-2026-NCLT-00798. The Interlocutory Application (IA) was filed by Mohit Bipinchandra Adatiya, the Resolution…

- **Court:** NCLT
- **Order date:** 29 Jul 2026
- **Citation:** TCN-2026-NCLT-00798
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/mohit-bipinchandra-adatiya-vs-praveen-kumar-daruka-anr-nl3z9

## Summary

### Background

The Interlocutory Application (IA) was filed by Mohit Bipinchandra Adatiya, the Resolution Professional (RP) of Byindia Creations Private Limited, under Sections 33 & 34 of the Insolvency & Bankruptcy Code, 2016 (IBC), seeking an order for the liquidation of the Corporate Debtor. The Corporate Debtor, Byindia Creations Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 23.06.2023, and Mr. Mohit Bipinchandra Adatiya was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC), with 100% voting share, subsequently resolved to liquidate the Corporate Debtor, primarily due to the absence of identifiable assets and the non-cooperation from the suspended management.

## Facts

The present Interlocutory Application (IA) is filed by the Resolution Professional (RP) under Section 33 & 34 of the IBC, 2016, seeking liquidation of Corporate Debtor, Byindia Creations Private Limited.

The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 23.06.2023 in CP(IB)/258(AHM)2022.

Mr. Mohit Bipinchandra Adatiya was appointed Interim Resolution Professional (IRP).

The Corporate Debtor was incorporated on 24.03.2013 under the provisions of Companies Act, 1956.

The IRP made a public announcement on 25.06.2025, inviting claims from creditors, with the last date for submission being 07.07.2025.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Byindia Creations Private Limited, should be put into liquidation …

**Ratio:** The Committee of Creditors (CoC), with 100% voting share, resolved to liquidate the

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**Reasoning:** The Corporate Debtor's asset base declined significantly to NIL realisable assets by the

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**Interpretation:** Sections 33 and 34 of the IBC, 2016, allow for the liquidation of a corporate

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**Application:** The Tribunal allowed the application for liquidation, concluding that the

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## Parties

- **Judges:** Chitra Hankare,…; Velamur G Venkata…
- **Appellants:** Mohit Bipinchandra…; M/s. Byindia…
- **Respondents:** Byindia Creations…; Praveen Kumar…; +1 more
- **Other parties:** Committee of…; Punjab National…; +4 more
- **Advocates:** Vishwas V…; Nipun Si…; +2 more

## Timeline

- **2013-03-24 — Corporate Debtor…**: The Corporate Debtor, Byindia Creations Private Limited, was incorporated under the…
- **2019-03-31 — Asset Base…**: The Corporate Debtor's asset base…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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