# In the matter of Angaraj Vanijya Pvt. Ltd.

> NCLT judgment dated 2025-07-24. Citation: TCN-2025-NCLT-01147. An application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 24 Jul 2025
- **Citation:** TCN-2025-NCLT-01147
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/angaraj-vanijya-pvt-ltd-fef21952

## Summary

### Background

An application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation proceedings for Angaraj Vanijya Private Limited (AVPL). The Resolution Professional (RP) filed the application based on the decision of the Committee of Creditors (CoC) due to the lack of any possibility of resolution.

## Facts

The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

The CoC decided to liquidate the Corporate Debtor due to the absence of any operational business or assets.

The third meeting of the CoC held on 03.01.2025 concluded that there was no possibility of resolution.

The fourth meeting of the CoC dated 14th February 2025 deliberated on initiating liquidation.

The Tribunal appointed Mr. Bishwanath Choudhary as Interim Resolution Professional on 24.10.2024.

Mr. Bishwanath Choudhary was appointed as Resolution Professional (RP) on 28.11.2024.

Mr. Santanu Brahma was appointed as Liquidator.

The IBBI circular debars the same RP from being appointed as Liquidator.

## Issues and analysis

### Issue 1: Whether the application for liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, …

**Ratio:** Section 33(2) of the IBC empowers the CoC to decide on initiating liquidation even before

…

**Reasoning:** The CoC, after considering the lack of any possibility of resolution, decided to

…

**Interpretation:** The decision of the CoC to liquidate the Corporate Debtor is not open to

…

**Application:** The Tribunal accepted the decision of the CoC and allowed the application for

…

## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** Bishwanath…
- **Respondents:** Angaraj Vanijya…
- **Other parties:** Committee of…; Santanu B…; +1 more
- **Advocates:** Anuj S…; Rashmi Si…; +2 more

## Timeline

- **2024-10-24 — Appointment…**: Mr. Bishwanath Choudhary was appointed…
- **2024-11-28 — Appointment…**: Mr. Bishwanath Choudhary was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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