# In the matter of Eshakti.com Private Limited

> NCLT judgment dated 2025-11-27. Citation: TCN-2025-NCLT-01823. The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 27 Nov 2025
- **Citation:** TCN-2025-NCLT-01823
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/eshakticom-private-limited-abdb28c4

## Summary

### Background

The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Eshakti.com Private Limited. The CIRP was initiated based on an application filed by the Corporate Debtor under Section 10 of the IBC, and Mr. Ebenezar Inbaraj was initially appointed as the Interim Resolution Professional (IRP).

## Facts

The Corporate Debtor, Eshakti.com Private Limited, filed an application under Section 10 of the IBC seeking initiation of CIRP.

Mr. Ebenezar Inbaraj was initially appointed as the Interim Resolution Professional (IRP).

Ms. Renuka Rangaswamy was later appointed as the Resolution Professional (RP).

The CoC was reconstituted after Paragon Partners LLP was reclassified as a related party.

The CoC unanimously resolved to liquidate the Corporate Debtor in the 7th CoC meeting held on 18.08.2025.

Two resolution plans were received but were not in accordance with the IBC, 2016 and RFRP.

The patents registered in favor of the Corporate Debtor have expired and hold no value.

The CoC approved the liquidator's fee of Rs. 5,00,000 and the manner in which liquidation expenses will be borne.

…

## Issues and analysis

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

**Ratio:** Section 33(2) of the IBC, 2016, allows for liquidation if the CoC resolves to liquidate

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**Reasoning:** The CoC unanimously resolved to liquidate the Corporate Debtor in the 7th CoC meeting

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**Interpretation:** The Tribunal interpreted Section 33(2) of the IBC, 2016, to mean that if the

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**Application:** The Tribunal applied Section 33(2) of the IBC, 2016, and allowed the

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Renuka Devi…
- **Respondents:** Eshakti.com Pvt.…
- **Other parties:** Paragon Partners…; Instant Autogas…; +10 more

## Timeline

- **2024-12-09 — CIRP Init…**: CIRP initiated against the Corporate…
- **2024-12-12 — Public Annou…**: IRP issued Public Announcement in Form-A…

## 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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