# In the matter of P&M ASSOCIATES LLP

> NCLT judgment dated 2025-08-29. Citation: TCN-2025-NCLT-01335. The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 29 Aug 2025
- **Citation:** TCN-2025-NCLT-01335
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/pampm-associates-llp-aa5f24db

## Summary

### Background

The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, M/s. P & M Associates LLP, based on the decision of the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. P & M Associates LLP.

Mr. Pramod Srihari was appointed as the Interim Resolution Professional (IRP).

The IRP received claims only from Operational Creditors.

The Committee of Creditors (CoC) was formed on 13.12.2024.

The CoC decided to liquidate the Corporate Debtor on 04.01.2025.

The Adjudicating Authority approved the liquidation of the Corporate Debtor.

CA Pramod Srihari was appointed as the Liquidator of the Corporate Debtor.

The Company Petition bearing C.P (IB) No. 145/BB/2024 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 to initiate Corporate

## Issues and analysis

### Issue 1: Whether the decision of the Committee of Creditors (CoC) to liquidate the Corporate Debtor, M/s. P …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016 allows the Adjudicating

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**Reasoning:** The CoC, in its commercial wisdom, decided to liquidate the Corporate Debtor due to the

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**Interpretation:** The Adjudicating Authority interpreted Section 33(2) to allow for liquidation

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**Application:** The Adjudicating Authority applied Section 33(2) and approved the liquidation

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Pani Trading…; Pramod Sr…
- **Respondents:** P & M Associates…

## Timeline

- **2024-11-20 — Admission o…**: Insolvency Resolution Process ('CIRP')…
- **2024-12-13 — Formation…**: The IRP had formed the…

## 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)

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