# In the matter of Maqdoom Moghny Enterprises Private Limited

> NCLT judgment dated 2025-02-14. Citation: TCN-2025-NCLT-01104. The case pertains to the liquidation of Maqdoom Moghny Enterprises Pvt Ltd, initiated under…

- **Court:** NCLT
- **Order date:** 14 Feb 2025
- **Citation:** TCN-2025-NCLT-01104
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/maqdoom-moghny-enterprises-private-limited-74b58317

## Summary

### Background

The case pertains to the liquidation of Maqdoom Moghny Enterprises Pvt Ltd, initiated under CP(IB) No.771/9/HDB/2019. The company was admitted into Corporate Insolvency Resolution Process (CIRP) on 13.05.2022, and subsequently, a liquidation order was passed on 28.06.2023, appointing Sreedhar Nukala as the Liquidator.

## Facts

Corporate Debtor, Maqdoom Moghny Enterprises Private Limited, was admitted into CIRP on 13.05.2022 vide CP(IB) No. 771/9/HDB/2019.

Liquidation order was passed on 28.06.2023, and Sreedhar Nukala was appointed as the Liquidator.

The Liquidator filed I.A (Dis) No.3 OF 2025 under Section 54(1) of the IBC, seeking dissolution of the Corporate Debtor.

The Liquidator issued a public announcement in Form B on 03.07.2023, inviting claims from stakeholders.

The Stakeholders Consultation Committee (SCC) was constituted, comprising Indian Overseas Bank (IOB), TS SFC/APSFC, and Manish Fashionworld Private Limited.

The Liquidator prepared an Asset Memorandum and filed it with the Tribunal on 11.09.2023.

A total of 12 SCC meetings were convened during the liquidation process.

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## Issues and analysis

### Issue 1: Whether the assets of the corporate debtor have been completely liquidated as per Section 54(1) of …

**Ratio:** Section 54(1) of the IBC stipulates that where the assets of the corporate debtor have

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**Reasoning:** The Liquidator submitted a final report detailing the liquidation process, asset

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**Interpretation:** The Tribunal interpreted Section 54(1) to mean that upon complete liquidation

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**Application:** The Tribunal, based on the Liquidator's report, concluded that the assets were

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## Parties

- **Judges:** Rajeev Bh…; SH. CHARAN…
- **Appellants:** Sreedhar…
- **Respondents:** Maqdoom Moghny…
- **Other parties:** Indian Overseas…; Kotak Mah…; +1 more
- **Advocates:** Peri Rama K…

## Timeline

- **2022-05-13 — Admission in…**: Corporate Debtor admitted into Corporate Insolvency Resolution Process (CIRP) vide CP(IB)…
- **2023-06-28 — Liquidation…**: Liquidation order passed, and Sreedhar…

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