# In the matter of HIM CYLINDERS LIMITED

> NCLT judgment dated 2026-01-22. Citation: TCN-2026-NCLT-00091. The application IA No. 2265/2023 was filed by Sandeep Goel, the Resolution Professional of Him…

- **Court:** NCLT
- **Order date:** 22 Jan 2026
- **Citation:** TCN-2026-NCLT-00091
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/him-cylinders-limited-51b10b14

## Summary

### Background

The application IA No. 2265/2023 was filed by Sandeep Goel, the Resolution Professional of Him Cylinders Limited, seeking liquidation of the Corporate Debtor under Section 33(1) of the Insolvency and Bankruptcy Code, 2016.

## Facts

An insolvency petition under Section 7 of the Code was filed by Syndicate Bank (Financial Creditor) against Him Cylinders Limited, which was admitted on 22.11.2022.

Reshma Mittal was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Sandeep Goel.

The Committee of Creditors (CoC) comprised only one member, Canara Bank (Erstwhile Syndicate Bank), holding 100% voting share.

The CoC approved inviting Expression of Interest (Eol) in Form – G, but no resolution plan was received by the submission deadline.

The CoC decided to liquidate the Corporate Debtor and appointed Sandeep Goel as the liquidator.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Him Cylinders Limited, should be liquidated under Section 33(1) of …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of

…

**Reasoning:** The CoC, exercising its commercial wisdom, proposed liquidation due to the absence of a

…

**Interpretation:** The Adjudicating Authority interpreted Section 33(1) to allow for liquidation

…

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

…

## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Sandeep…; Syndicate…
- **Respondents:** HIM CYLINDERS…
- **Other parties:** Committee of…; Canara Bank…; +2 more
- **Advocates:** Viren S…; Navelli…

## Timeline

- **2019 — CP(IB) No.149/Chd/HP/201…**: Main matter in…
- **2022-11-22 — Admission in…**: Corporate debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/him-cylinders-limited-51b10b14