# R K Mining Pvt Ltd vs. Talwar Cars Pvt Ltd

> NCLT judgment dated 2026-07-16. Citation: TCN-2026-NCLT-00664. M/s Talwar Cars Private Limited (Corporate Debtor) was admitted into Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 16 Jul 2026
- **Citation:** TCN-2026-NCLT-00664
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/r-k-mining-pvt-ltd-vs-talwar-cars-pvt-ltd-7kap1

## Summary

### Background

M/s Talwar Cars Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on January 9, 2023, and subsequently into liquidation on April 25, 2024, with Mr. Santosh Bhatia appointed as the liquidator. The liquidator filed an application under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, seeking the dissolution of the Corporate Debtor, along with the final report and compliance certificate in Form H. The liquidation process involved selling available assets and addressing pending arbitration proceedings between the Corporate Debtor and Volvo Auto India Pvt. Ltd. for approximately Rs. 100 crores.

## Facts

M/s Talwar Cars Private Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on January 9, 2023.

A liquidation order was passed on April 25, 2024, and Mr. Santosh Bhatia was appointed as the liquidator.

The liquidator issued a public announcement on May 2, 2024, in Form B under Regulation 12 of the Liquidation Regulations 2016, inviting claims from stakeholders by May 23, 2024.

The liquidator sold 3 damaged cars and handed over the sale proceeds of Rs.15,00,000/- to the Central Bank of India.

Arbitration proceedings are ongoing between the Corporate Debtor and Volvo Auto India Pvt. Ltd. claiming nearly Rs.100 crores.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s Talwar Cars Private Limited, should be dissolved as per the …

**Ratio:** A corporate debtor can be dissolved if its assets have been completely liquidated, and

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**Reasoning:** The liquidator filed an application under Section 54(1) of the IBC, along with the Final

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**Interpretation:** Section 54(1) of the IBC mandates that once the assets of the corporate debtor

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**Application:** The liquidator of M/s Talwar Cars Private Limited applied for dissolution after

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## Parties

- **Judges:** SHRI. RAJEEV…; SHRI. SANJA…
- **Appellants:** R K Mining…; Mr Santosh Bhatia…
- **Respondents:** M/s Talwar Cars…; Talwar Cars Pvt…
- **Other parties:** SCC…; R.K. Mining…; +3 more
- **Advocates:** Mayur M…; Sagarika…

## Timeline

- **2023-01-09 — CIRP Admi…**: M/s Talwar Cars Private Limited (CD) was admitted into Corporate Insolvency Resolution…
- **2024-04-25 — Liquidation…**: Liquidation order passed in IA No.7 of 2024, and Mr. Santosh Bhatia was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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