# In the matter of I-Vantage India Private Limited

> Read the full IBC case summary for In the matter of I-Vantage India Private Limited. NCLT judgment dated 2025-04-24. Citation: TCN-2025-NCLT-00998.

- **Court:** NCLT
- **Order date:** 24 Apr 2025
- **Citation:** TCN-2025-NCLT-00998
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/i-vantage-india-private-limited-ce204934

## Summary

### Background

The Resolution Professional filed an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking to liquidate the Corporate Debtor, M/s. I-Vantage India Private Limited, as no resolution plan was received during the Corporate Insolvency Resolution Process (CIRP).

## Facts

The Resolution Professional for M/s. I-Vantage India Private Limited, the corporate debtor, filed an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking to liquidate the corporate debtor. This application was filed because no Expression of Interest for submission of resolution plans was received, leading to the Committee of Creditors (CoC) resolving to liquidate the company.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. I-Vantage India Private Limited, should be liquidated under…

**Ratio:** Liquidation is permissible under Section 33(2) of the IBC when the Committee of Creditors…

**Reasoning:** The Committee of Creditors resolved to liquidate the Corporate Debtor with 100% vote…

**Interpretation:** The court interpreted Section 33(2) to mean that if the CoC decides to…

**Application:** Given that no Expression of Interest was received and the CoC unanimously…

## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Advocates:** For the Applicant:…; Coun…

## Timeline

- **July 8, 2024 — IRP Appoi…**: Mr. Murali Mohan Chevuturi was appointed as…
- **July 16, 2024 — Public Announcement…**: A Public Announcement Notice…

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