# Mr. Vibin Vincent vs. M/s. Inditrade Business Consultants Limited

> NCLT judgment dated 2026-07-28. Citation: TCN-2026-NCLT-00806. The Resolution Professional (RP) of M/s. Inditrade Business Consultants Limited filed an…

- **Court:** NCLT
- **Order date:** 28 Jul 2026
- **Citation:** TCN-2026-NCLT-00806
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/mr-vibin-vincent-vs-ms-inditrade-business-consultants-limited-w48wz

## Summary

### Background

The Resolution Professional (RP) of M/s. Inditrade Business Consultants Limited filed an application under Section 33 and 60(5)(c) of the IBC, 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. Vibin Vincent was appointed as the Interim Resolution Professional (IRP) and subsequently as the RP. During the CIRP, it was found that the Corporate Debtor was not functioning from its registered office, and the suspended management consistently failed to cooperate by not handing over books of accounts, records, and electronic data. Despite publishing Form G, no Expressions of Interest or Resolution Plans were received.

## Facts

An application was filed under Section 33 and 60(5)(c) of the Insolvency & Bankruptcy Code, 2016, by the Resolution Professional of M/s. Inditrade Business Consultants Limited.

The Applicant, Mr. Vibin Vincent, was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor by an order dated 10.10.2025, admitting the Corporate Insolvency Resolution Process (CIRP).

At the 1st Committee of Creditors (CoC) meeting on 07.11.2025, the CoC, with 100% voting share, resolved to appoint Mr. Vibin Vincent as the Resolution Professional (RP), which was confirmed by the Adjudicating Authority on 20.11.2025.

The Applicant made the statutory public announcement on 12.10.2025, inviting claims from creditors.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Inditrade Business Consultants Limited, should be liquidated …

**Ratio:** Liquidation is appropriate when no viable resolution plan is received, the Corporate

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**Reasoning:** Despite the publication of Form G inviting Expressions of Interest, no prospective

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**Interpretation:** Section 33(2) of the IBC, 2016, empowers the Adjudicating Authority to pass a

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**Application:** Given the failure to receive any resolution plan, the significant impediments

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## Parties

- **Judges:** Shri. Vina…; RAVICHANDRAN…
- **Appellants:** Vibin Vi…
- **Respondents:** M/s. Inditrade…
- **Other parties:** Committee of…; HDFC Bank…; +1 more
- **Advocates:** A C Venu…

## Timeline

- **2026-07-07 — Date of F…**: The application for…
- **2025-10-10 — CIRP Admission and IRP…**: The Corporate Insolvency Resolution Process (CIRP) was admitted, and Mr. Vibin Vincent…

## 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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