# Alert Security and Allied Services vs. Neo Aid Communications (India) Pvt. Ltd.

> NCLT judgment dated 17 Apr 2026. Citation: TCN-2026-NCLT-00416. The Corporate Insolvency Resolution Process (CIRP) for Neo Aid Communications (India) Pvt.…

- **Court:** NCLT
- **Order date:** 17 Apr 2026
- **Citation:** TCN-2026-NCLT-00416
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/alert-security-and-allied-services-vs-neo-aid-communications-6f5125fe

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) for Neo Aid Communications (India) Pvt. Ltd. (Corporate Debtor) was initiated following a petition filed by Alert Security & Allied Services (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). Due to the absence of a viable Resolution Plan and the inability of financial creditors to infuse additional funds, the Committee of Creditors (CoC) concluded that liquidation was the only option. Consequently, the Adjudicating Authority ordered the liquidation of the Corporate Debtor on January 25, 2019, and appointed Mr. Mahendra

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## Facts

Alert Security & Allied Services, an Operational Creditor, filed a petition under Section 9 of the IBC, 2016, for the initiation of Corporate Insolvency Resolution Process (CIRP) against Neo Aid Communications (India) Pvt. Ltd., which was admitted on 09.07.2018.

Mr. Mahendra Prakash Khandelwal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 12.08.2018.

No Resolution Plan was received for the Corporate Debtor, and the Financial Creditors in the CoC expressed their inability to provide additional funds, leading to the conclusion that liquidation was the only option.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Neo Aid Communications (India) Pvt. Ltd., is eligible for dissolution …

**Ratio:** Section 54(1) of the Insolvency and Bankruptcy Code, 2016, mandates that if the assets of

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**Reasoning:** The Adjudicating Authority observed that the Liquidator had successfully completed the

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**Interpretation:** Section 54's provisions clearly link the dissolution of a corporate debtor to

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**Application:** Given that the Liquidator has provided comprehensive details of asset

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## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Hira Lal…
- **Respondents:** Neo Aid Communicat…
- **Other parties:** Insolvency and…; Liquida…; +8 more

## Timeline

- **2018-07-09 — CIRP Init…**: The Adjudicating Authority admitted the petition filed by Alert Security & Allied…
- **2018-08-12 — IRP Confir…**: The first meeting of the Committee of Creditors (CoC) was convened, and Mr. Mahendra…

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