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

> NCLT judgment dated 2025-01-16. Citation: TCN-2025-NCLT-00615. The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional of the…

- **Court:** NCLT
- **Order date:** 16 Jan 2025
- **Citation:** TCN-2025-NCLT-00615
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/archis-enterprises-india-private-limited-9f0f5282

## Summary

### Background

The case involves an application filed by Mr. Rahul Drolia, the Resolution Professional 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 an order by the Tribunal on 2024-03-12, based on a petition filed by Mahashakti Plasto Private Limited under Section 9 of the Code. Mr. Rahul Drolia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.

## Facts

Mr. Rahul Drolia, the Resolution Professional, filed an application seeking liquidation of Archis Enterprises (India) Private Limited under Section 33 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated against Archis Enterprises following a petition by Mahashakti Plasto Private Limited. The Tribunal admitted the petition on 2024-03-12. A public announcement was issued, and two claims were received from operational creditors. The Committee of Creditors (CoC) was formed, consisting of Department of Goods & Tax (78.06% voting rights), Employees State Insurance Corporation (3.43%), and Employees Provident Fund Organisation (18.51%). The CoC observed the absence of tangible or intangible assets and recommended liquidation. The 4th CoC meeting was held

…

## 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 for the liquidation of

…

**Reasoning:** The Tribunal reasoned that no resolution plan could be brought forth and voted upon. The

…

**Interpretation:** Section 33(2) is interpreted to mean that if a resolution plan is not viable or

…

**Application:** In this case, since no resolution plan was presented and the CoC recommended

…

## Parties

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

## Timeline

- **2016-01-01 — Enactment…**: Insolvency and…
- **2024-03-12 — Tribunal…**: Tribunal orders initiation of CIRP against Archis Enterprises (India) Private Limited…

## Legal provisions

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

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/archis-enterprises-india-private-limited-9f0f5282