# In the matter of Nexrise Publications Private Limited

> NCLT judgment dated 2025-06-05. Citation: TCN-2025-NCLT-00931. The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016, by Mr.…

- **Court:** NCLT
- **Order date:** 5 Jun 2025
- **Citation:** TCN-2025-NCLT-00931
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/nexrise-publications-private-limited-70ab74d9

## Summary

### Background

The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016, by Mr. Shouvik Kumar Roy, the Resolution Professional of Nexrise Publications Private Limited, seeking the initiation of liquidation proceedings for the Corporate Debtor.

## Facts

The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016.

The Corporate Insolvency Resolution Process (CIRP) of Nexrise Publications Private Limited was initiated on 02.02.2024.

Mr. Shouvik Kumar Roy was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional.

The Committee of Creditors (CoC) consisted entirely of operational creditors.

No resolution plan was received despite the issuance of Form-G and a request for a resolution plan.

The CoC resolved to initiate liquidation proceedings under Section 33(2) of the Code.

The CoC authorized the RP to file the application for liquidation.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Nexrise Publications Private …

**Ratio:** Section 33(2) of the

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**Reasoning:** No resolution plan was received within the CIRP period, and the CoC approved the decision

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**Interpretation:** The Tribunal interpreted Section 33(2) to allow for liquidation when no

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**Application:** The Tribunal applied Section 33(2) and

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Shouvik Kum…
- **Respondents:** Nexrise Publicatio…
- **Other parties:** Repro India…; Employees…; +3 more
- **Advocates:** Arjun M…

## Timeline

- **2024-02-02 — Commencement…**: The Corporate Insolvency…
- **2024-02-02 — Appointment of Interim…**: The Applicant was intimated about his appointment as the Interim Resolution Professional…

## Legal provisions

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

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