# In the matter of Archis Enterprises (India) Private
Limited

> NCLT judgment dated 2025-01-16. Citation: TCN-2025-NCLT-00621. The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional (RP) of…

- **Court:** NCLT
- **Order date:** 16 Jan 2025
- **Citation:** TCN-2025-NCLT-00621
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/archis-enterprises-india-private-limited-9ecc0e94

## Summary

### Background

The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional (RP) of the Corporate Debtor, Archis Enterprises (India) Private Limited, seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Archis Enterprises (India) Private Limited following a petition filed by Mahashakti Plasto Private Limited, an Operational Creditor, under Section 9 of the Code. The RP was initially appointed as Interim Resolution Professional and later confirmed as Resolution Professional.

## Facts

Mahashakti Plasto Private Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Archis Enterprises (India) Private Limited. Mr. Rahul Drolia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. A public announcement was made, and claims were received from Operational Creditors. The Committee of Creditors (CoC) was formed, consisting of three Operational Creditors: Department of Goods & Tax, Government of Maharashtra (78.06% voting rights), Employees State Insurance Corporation (3.43% voting rights), and Employees Provident Fund Organisation (18.51% voting rights). The

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Archis Enterprises (India) Private …

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

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**Reasoning:** The Tribunal reasoned that no resolution plan was brought forth, and the CoC, consisting

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**Interpretation:** Section 33(2) provides the legal basis for initiating liquidation proceedings

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**Application:** In this case, the absence of a resolution plan and the CoC's recommendation for

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** Rahul D…
- **Respondents:** Archis Enterprises…; Mahashakti Plasto…

## Timeline

- **2019-01-01 — Company Petiti…**: Company Petition C.P.(IB)/1840(MB-IV)/2019 filed by Mahashakti Plasto Private Limited…
- **2024-03-12 — Tribunal…**: Tribunal order admitting the Company Petition and initiating Corporate Insolvency…

## 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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