# In the matter of SUPREME POLYTUBES LIMITED

> NCLT judgment dated 2025-08-29. Citation: TCN-2025-NCLT-01314. An application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for…

- **Court:** NCLT
- **Order date:** 29 Aug 2025
- **Citation:** TCN-2025-NCLT-01314
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/supreme-polytubes-limited-5ec70def

## Summary

### Background

An application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the initiation of liquidation of the Corporate Debtor, Supreme Polytubes Limited. The application was filed by the Resolution Professional, Mr. Anurag Goel.

## Facts

An insolvency petition was filed under Section 9 of the Code by the Operational Creditor for initiating CIRP against Supreme Polytubes Limited.

The petition was admitted on 18.08.2023, and Mr. Sandeep Kumar Chitkara was appointed as Interim Resolution Professional.

The CoC was formed, consisting of Punjab National Bank as the sole financial creditor with 100% voting share.

The CoC resolved to appoint Mr. Anurag Goel as the RP.

The CoC resolved to liquidate the corporate debtor as no resolution plan was received.

The CoC approved the appointment of Mr. Mukesh Kumar Jain as the liquidator.

The estimated liquidation cost was approved as Rs. 14.00 Lakhs.

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor under Section 33(2) of the …

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

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**Reasoning:** The CoC, with 100% voting share, approved the liquidation of the Corporate Debtor as no

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**Interpretation:** The Adjudicating Authority has the power to order liquidation based on the

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**Application:** The Adjudicating Authority approved the application for liquidation,

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Anurag Goel…; Anurag…; +1 more
- **Respondents:** Supreme Polytubes…
- **Other parties:** Punjab National…; Punjab National…; +2 more
- **Advocates:** Arpit Singh…

## Timeline

- **18.08.2023 — Admission in…**: Corporate debtor was admitted into…
- **N/A — Appointment…**: Mr. Sandeep Kumar Chitkara was appointed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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