# In the matter of E C BOSE AND CO PVT LTD

> NCLT judgment dated 2025-06-20. Citation: TCN-2025-NCLT-01062. The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 20 Jun 2025
- **Citation:** TCN-2025-NCLT-01062
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/e-c-bose-and-co-pvt-ltd-2eeb6f1c

## Summary

### Background

The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of E.C. Bose & Company Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 25 October 2019, following a petition by Sugesan Transport Private Limited, the Financial Creditor.

## Facts

CIRP was initiated against E.C. Bose & Company Private Limited on 25 October 2019.

Sugesan Transport Private Limited filed the petition as a Financial Creditor.

Swarbanabi Ramasami was initially appointed as the Interim Resolution Professional (IRP).

Geetha Sridhar replaced Swarbanabi Ramasami as the new Interim Resolution Professional.

Tantia Construction Limited submitted a Resolution Plan but failed to furnish a bid bond guarantee of rupees 1.5 crores.

The CoC emphasized the inability to deviate from the condition of the full bid bond guarantee.

The Resolution Professional filed an application for an extension of 30 days to complete the CIRP.

The 21st CoC meeting did not result in approval for liquidation.

The statutory timeline of 330 days has lapsed.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(1)(a) of the Insolvency and …

**Ratio:** Section 33(1) of the Code mandates the Adjudicating Authority to pass an order for

…

**Reasoning:** The statutory timeline of 330 days has lapsed, and no approval for liquidation was

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**Interpretation:** The Adjudicating Authority interprets Section 33(1) as requiring liquidation

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**Application:** The Adjudicating Authority applied Section 33(1) and ordered the liquidation of

…

## Parties

- **Judges:** Labh S…; Ms Rekha Kantilal…
- **Appellants:** Sugesan Transport…; Sandip…
- **Respondents:** E.C. Bose and…
- **Other parties:** Swarbanabi…; Geetha Sr…; +1 more
- **Advocates:** Ms.Deblina…; Mr.M.Chat…; +5 more

## Timeline

- **2019-10-25 — Initiation…**: The adjudicating authority directed the initiation of the Corporate Insolvency Resolution…
- **2024-05-21 — Publication o…**: The Applicant Published Form G on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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