# In the matter of WIN HIDE PRIVATE LIMITED

> NCLT judgment dated 2025-08-22. Citation: TCN-2025-NCLT-01306. Win Hide Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 22 Aug 2025
- **Citation:** TCN-2025-NCLT-01306
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/win-hide-private-limited-1ca875c4

## Summary

### Background

Win Hide Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP). Aleena Leather Exports filed an application (IA/1171(CHE)/2024) seeking to dismiss the petition.

## Facts

Win Hide Private Limited filed CP(IB)/9(CHE)/2023 under Section 10 of IBC, 2016, for initiating CIRP.

Aleena Leather Exports filed IA/1171(CHE)/2024 seeking to dismiss the petition.

The Corporate Applicant disclosed a total default of Rs. 23,42,08,917/-.

Operational creditors raised objections regarding ledger misstatements, qualifications in the audit report, and irregular income tax returns.

The Corporate Applicant had proposed Mr. Y.N. Ramachandran as the IRP, but his AFA was not valid.

The Tribunal found that the objections raised by the operational creditors were unsubstantiated.

The Tribunal admitted the petition under Section 10 of the IBC, 2016, and initiated CIRP against Win Hide Private Limited.

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## Issues and analysis

### Issue 1: Whether the objections raised by the operational creditors warrant the rejection of the petition …

**Ratio:** The Tribunal held that alleged ledger misstatements, qualifications in the audit report,

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**Reasoning:** Such defects pertaining to the books of the Corporate Applicant do not require

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**Interpretation:** The Tribunal interpreted that procedural irregularities and unsubstantiated

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**Application:** The Tribunal applied this principle in the present case and found that the

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Respondents:** Win Hide Private…; Aleena Leather…
- **Other parties:** Selvak…; Deenadayalan…; +15 more
- **Advocates:** T. Jayash…; E.K. Kuma…; +16 more

## Timeline

- **2023-01-12 — Filing of P…**: The present petition was filed…
- **2025-08-22 — Order Pron…**: Order pronounced on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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