# In the matter of Campus Impex Private Limited

> NCLT judgment dated 2025-03-17. Citation: TCN-2025-NCLT-00364. The case involves an application under Section 33(1) of the Insolvency & Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 17 Mar 2025
- **Citation:** TCN-2025-NCLT-00364
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/campus-impex-private-limited-1a4d95b7

## Summary

### Background

The case involves an application under Section 33(1) of the Insolvency & Bankruptcy Code, 2016, seeking the initiation of the liquidation process for Campus Impex Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Campus Impex Private Limited on August 13, 2024, following a petition filed under Section 7 of the IBC by Financial Creditor, NRS Steel Traders LLP. Surendra Kumar Agarwal was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The corporate debtor's board was suspended, and a moratorium was imposed under Section 14.

## Facts

NRS Steel Traders LLP, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Campus Impex Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The CIRP was initiated on August 13, 2024, and Surendra Kumar Agarwal was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The corporate debtor, Campus Impex Private Limited, had ceased business operations since 2019. The RP issued public announcements inviting claims from creditors, with the last date for submission being August 27, 2024. The Committee of Creditors (CoC) was constituted, comprising solely of NRS Steel Traders LLP. The RP published Form G inviting 'Expressions of Interest' for submitting a

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Campus Impex Private Limited, …

**Ratio:** Section 33(1)(a) of the Code mandates that the Adjudicating Authority shall pass an order

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**Reasoning:** The Adjudicating Authority noted that no resolution plan was received within the CIRP

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**Interpretation:** Section 33 of the IBC provides the framework for the Adjudicating Authority to

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**Application:** In this case, since no resolution plan was received and the CoC approved

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## Parties

- **Judges:** BIDISHA BA…; SAMEER…
- **Appellants:** NRS Steel Traders…
- **Respondents:** Campus Impex…

## Timeline

- **2021-01-01 — CP(IB)/61(K…**: The case number for the Corporate…
- **2024-08-13 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against Campus Impex Private…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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