# In the matter of TORQUE AUTOMOTIVE PRIVATE LIMITED

> NCLT judgment dated 2026-01-29. Citation: TCN-2026-NCLT-00080. The application IA(Liq.)/6(AHM)2025 was filed by Mr. Kamal Agarwal, the Resolution Professional…

- **Court:** NCLT
- **Order date:** 29 Jan 2026
- **Citation:** TCN-2026-NCLT-00080
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/torque-automotive-private-limited-4420f8c6

## Summary

### Background

The application IA(Liq.)/6(AHM)2025 was filed by Mr. Kamal Agarwal, the Resolution Professional (RP) of M/s. Torque Automotive Private Limited, under Section 33 read with Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation process.

## Facts

The Corporate Debtor, M/s. Torque Automotive Private Limited, was incorporated under the Companies Act, 1956 and is engaged in the business of sale of four-wheeler cars.

The CIRP was initiated based on an application filed by M/s Sampati Securities Limited under Section 7 of the IBC, which was admitted on 24.02.2021.

Mr. Parag Sheth was initially appointed as the Interim Resolution Professional (IRP).

The CoC was constituted on 01.04.2021, comprising Bank of Baroda, M/s. Volkswagen Finance Private Limited, M/s. Sampati Securities Limited and HDFC Bank Limited.

The CoC resolved to replace the IRP with Mr. Kamal Aggarwal.

The NCLAT dismissed Company Appeal (AT) (Insolvency) No. 641 of 2021, noting that all three Resolution Plans had been rejected by the CoC.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be admitted into liquidation under Section 33(2) of the …

**Ratio:** Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 states that where no

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**Reasoning:** The maximum permissible CIRP period had expired

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**Interpretation:** The Adjudicating Authority interpreted Section 33(1)(a) to mandate liquidation

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**Application:** The Adjudicating Authority applied Section 33(1)(a) and ordered the Corporate

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Kamal Ag…
- **Respondents:** Torque Automotive…; Torque Automotive…
- **Other parties:** Bank of B…; Volkswagen…; +7 more
- **Advocates:** Jaimin…

## Timeline

- **2021-02-24 — CIRP Init…**: CIRP initiated based on application…
- **2021-04-01 — CoC Form…**: Committee of Creditors…

## Legal provisions

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

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