# In the matter of PRESSCOM PRODUCTS PRIVATE LIMITED

> NCLT judgment dated 2026-03-26. Citation: TCN-2026-NCLT-00357. The application pertains to the Corporate Insolvency Resolution Process (CIRP) of Presscom…

- **Court:** NCLT
- **Order date:** 26 Mar 2026
- **Citation:** TCN-2026-NCLT-00357
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/presscom-products-private-limited-acdd2495

## Summary

### Background

The application pertains to the Corporate Insolvency Resolution Process (CIRP) of Presscom Products Private Limited, initiated on 04.11.2022. The applicant, Sanjay Mehra, is the Resolution Professional (RP).

## Facts

The Corporate Insolvency Resolution Process (CIRP) of Presscom Products Private Limited was initiated on 04.11.2022.

Sanjay Mehra was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

The Committee of Creditors (CoC) was constituted on 08.12.2022, with Intec Capital Limited holding 100% voting share.

The CoC decided to liquidate the Corporate Debtor due to the absence of identifiable assets.

The RP filed an application for liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

The Adjudicating Authority ordered the liquidation of the Corporate Debtor and appointed Sanjay Mehra as the Liquidator.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(2) of the Insolvency and …

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

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**Reasoning:** The CoC, in its commercial wisdom, decided to liquidate the Corporate Debtor due to the

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**Interpretation:** The Adjudicating Authority interpreted Section 33(2) to allow for liquidation

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**Application:** The Adjudicating Authority applied Section 33(2) and ordered the liquidation of

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Sanjay…
- **Respondents:** Presscom Products…
- **Other parties:** Intec Capital…; Steel Hypermart…; +1 more
- **Advocates:** Manoj M…

## Timeline

- **2022-11-04 — Commencement…**: The Corporate Insolvency…
- **2022-11-04 — Appointment…**: Sanjay Mehra was appointed as the…

## 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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