# In the matter of OMID ENGINEERING PRIVATE LIMITED

> NCLT judgment dated 2026-01-22. Citation: TCN-2026-NCLT-00090. The application was filed by Mr. Sandeep Goel, the Resolution Professional of Omid Engineering…

- **Court:** NCLT
- **Order date:** 22 Jan 2026
- **Citation:** TCN-2026-NCLT-00090
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/omid-engineering-private-limited-b9f64a6b

## Summary

### Background

The application was filed by Mr. Sandeep Goel, the Resolution Professional of Omid Engineering Private Limited, under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, for the initiation of liquidation of the Corporate Debtor.

## Facts

Mr. Sandeep Goel, the Resolution Professional of Omid Engineering Private Limited, filed an application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, for the initiation of liquidation of the Corporate Debtor.

The Adjudicating Authority admitted the Company Application under Section 7 of the Code, declared a moratorium, and appointed Ms. Reshma Mittal as the Interim Resolution Professional (IRP).

The IRP issued a public announcement and apprised the CoC of the claims received, including a claim from Syndicate Bank (now Canara Bank) and Berger Paints India Limited.

The CoC members filed an application seeking the replacement of IRP with RP; Mr. Sandeep Goel, and the Tribunal approved the appointment of Mr. Sandeep Goel as Resolution Professional.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33 of the Insolvency and Bankruptcy …

**Ratio:** Section 33 of the Code allows for liquidation when the conditions for resolution are not

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**Reasoning:** The CoC unanimously resolved to liquidate the Corporate Debtor due to the absence of a

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**Interpretation:** The Adjudicating Authority interpreted Section 33 to allow for liquidation when

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**Application:** The Adjudicating Authority applied Section 33 and directed the liquidation of

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Sandeep…
- **Respondents:** Omid Engineering…
- **Other parties:** Syndicate…; Canara…; +3 more
- **Advocates:** Viren S…; Navelli…

## Timeline

- **2022-11-22 — Adjudicating Authority…**: The Adjudicating Authority admitted Company Application (IB) No. 147(Chd)/HP/2019 filed…
- **2023-04-01 — Application for…**: An application was filed under Section 33(2) of the Code on 01.04.2023 in IA No.927/2023…

## 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)

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