# In the matter of Olympic Sportsware And Equipments Private Limited

> NCLT judgment dated 2025-06-11. Citation: TCN-2025-NCLT-00913. The Resolution Professional claimed to have received costs up to March 2025, but the Committee…

- **Court:** NCLT
- **Order date:** 11 Jun 2025
- **Citation:** TCN-2025-NCLT-00913
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/olympic-sportsware-and-equipments-private-limited-83aa3737

## Summary

### Background

An application (I.A.No.771/2023) was filed seeking initiation of liquidation proceedings for the Corporate Debtor and appointment of a liquidator. The CoC, in its 4th meeting held on 06.02.2025, decided to take the Corporate Debtor for liquidation.

## Facts

The Resolution Professional claimed to have received costs up to March 2025, but the CoC has not been making payments.

The concerned financial creditor has taken a decision regarding CIRP costs.

The CoC held its 4th meeting on 06.02.2025 and decided to liquidate the Corporate Debtor.

Mr. M.V. Sudarshan was recommended by the CoC and deemed Resolution Professional.

Mr. M.V. Sudarshan's AFA has been filed.

## Issues and analysis

### Issue 1: Whether the CIRP costs …

**Ratio:** The court directed that the

…

**Reasoning:** The CoC has not been making payments despite

…

**Interpretation:** The court expects the CIRP costs

…

**Application:** This applies to the concerned

…

## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** M/s. Olympic…
- **Other parties:** M.V. Suda…; Gajendra…
- **Advocates:** Gajendra…; Hemanth…

## Timeline

- **2025-06-11 — Order Del…**: Order delivered on…
- **2025-02-06 — CoC Meet…**: The CoC in its 4th meeting held on 06.02.2025, after deliberation on the relevant…

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