# Profectus Capital Private Limited vs. M K Fashion Hub Private Limited

> NCLT judgment dated 2026-09-11. Citation: TCN-2026-NCLT-01002. The present application, IA(Liq.)/5(AHM)2026, was filed by the Resolution Professional, Mr.…

- **Court:** NCLT
- **Order date:** 11 Sept 2026
- **Citation:** TCN-2026-NCLT-01002
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/profectus-capital-private-limited-vs-m-k-fashion-hub-private-limited-578kg

## Summary

### Background

The present application, IA(Liq.)/5(AHM)2026, was filed by the Resolution Professional, Mr. Indrajit Mukherjee, of the Corporate Debtor, M K Fashion Hub Private Limited, under Section 33 of the Insolvency and Bankruptcy Code, 2016. The application sought the initiation of liquidation proceedings against the Corporate Debtor and the appointment of a liquidator. The Corporate Insolvency Resolution Process (CIRP) was initiated by Profectus Capital Private Limited (Financial Creditor) against M K Fashion Hub Private Limited and admitted by the Tribunal on 07.10.2024. An earlier liquidation application (IA No. 1013 (AHM)/2025) was rejected on 13.02.2026, with directions to the Committee of Creditors (CoC) to consider extension of CIRP or liquidation.

## Facts

Ld. counsel for the RP appeared and submitted an affidavit.

Remaining CoC members have paid fees except one financial creditor, M/s Capri Global.

M/s Capri Global has not paid CIRP cost and did not appear as directed.

Ld. counsel for the respondent FC seeks time to file vakalatnama and assures to pay fees within a week after consulting his client.

RP appeared in person and made certain submissions.

The present application is filed by the Resolution Professional Mr. Indrajit Mukherjee for liquidation of the Corporate Debtor M K Fashion Hub Private Limited under Section 33 of the IBC, 2016.

CIRP was initiated by the Financial Creditor Profectus Capital Private Limited against the Corporate Debtor in CP (IB) No. 126 of 2024.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M K Fashion Hub Private Limited, should be liquidated under Section …

**Ratio:** Liquidation is appropriate when the Corporate Debtor has no active business operations,

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**Reasoning:** The Corporate Debtor is not in operation, lacks active business, assets, or revenue. The

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**Interpretation:** Section 33 of the IBC allows for liquidation if a resolution plan is not

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**Application:** Given the facts (no operations, meager assets, CoC resolution for liquidation,

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Profectus Capital…; Indrajeet…
- **Respondents:** M K Fashion Hub…
- **Other parties:** M/s Capri…; MAS Finan…; +3 more
- **Advocates:** Ritesh Pa…

## Timeline

- **2024-10-07 — CIRP Admi…**: CIRP initiated against the Corporate Debtor in CP (IB) No. 126 of 2024 was admitted by…
- **2025-08-22 — Earlier Liquidation…**: An earlier application seeking liquidation of the Corporate Debtor (IA No. 1013…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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