# In the matter of CHADHA SUPER CARS PRIVATE LIMITED

> NCLT judgment dated 2026-01-08. Citation: TCN-2026-NCLT-00044. The case pertains to an application filed by the Resolution Professional (RP) under Section 33…

- **Court:** NCLT
- **Order date:** 8 Jan 2026
- **Citation:** TCN-2026-NCLT-00044
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chadha-super-cars-private-limited-94aa5740

## Summary

### Background

The case pertains to an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate liquidation proceedings for M/s Chadha Super Cars Private Limited.

## Facts

Yes Bank Limited, the financial creditor, filed a petition under Section 7 of the IBC, which was admitted, initiating CIRP against M/s Chadha Super Cars Private Limited.

Mr. Bhupinder Sethi was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP).

The Committee of Creditors (CoC) was constituted, comprising ICICI Bank Limited, Yes Bank Limited, and PPG Asian Paints Private Limited.

The RP issued Form G, inviting Expression of Interest (EOI), but no resolution plan was submitted by the only prospective resolution applicant.

The CoC approved the liquidation of the corporate debtor with 87.68% voting share and authorized the RP to file an application for liquidation.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** The Adjudicating Authority can hardly interfere in the commercial wisdom of Competent

…

**Reasoning:** The CoC, having analyzed the issue, decided to put the CD under liquidation process as no

…

**Interpretation:** The decision of the CoC to liquidate the Corporate Debtor is in accordance with

…

**Application:** The application for

…

## Parties

- **Judges:** KHETRABASI…; SHISHIR A…
- **Appellants:** Yes Bank L…; Bhupinder…
- **Respondents:** M/s Chadha Super…
- **Other parties:** ICICI Bank…; PPG Asian Paints…
- **Advocates:** Pulkit…

## Timeline

- **2024-01-08 — CIRP Init…**: CIRP initiated against the Corporate Debtor by admitting Section 7 application filed by…
- **2024-02-07 — 1st CoC M…**: 1st meeting of the CoC held, agenda for…

## 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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