# In the matter of M.R. NIRMAN PRIVATE LIMITED

> NCLT judgment dated 2025-11-13. Citation: TCN-2025-NCLT-01862. The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 13 Nov 2025
- **Citation:** TCN-2025-NCLT-01862
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/mr-nirman-private-limited-fd3484a4

## Summary

### Background

The case involves an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of liquidation of the corporate debtor, M R Nirman Private Limited.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of M R Nirman Private Limited was initiated on 05.09.2024.

Asish Giria was appointed as the Interim Resolution Professional (IRP).

The applicant made a public announcement about the initiation of CIRP on 08.9.2024.

The applicant constituted a Committee of Creditors (CoC), and the first meeting was held on 04.10.2024.

The applicant sought information from the Suspended Board of Directors, but they did not provide complete information.

The applicant appointed a valuer and prepared an information memorandum, but the valuation process was delayed due to lack of information from the Suspended Board of Directors.

The CIRP process completion period of 180 days expired on 04.03.2025, and an extension of 90 days was granted.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor under Section 33 of the Insolvency …

**Ratio:** The Hon'ble Supreme Court in the matter of K. Sashidhar Versus Indian Overseas Bank &

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**Reasoning:** The CoC with 100% majority has passed the resolution seeking liquidation of the Corporate

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**Interpretation:** The Tribunal has very limited judicial review in such matters of commercial

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**Application:** The Bench allows the present application and pass order for liquidation of

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Asish G…
- **Respondents:** M.R. Nirman…
- **Other parties:** Madhumita…; Deenanath Nandlal…
- **Advocates:** Snehasish…; Avishek…; +1 more

## Timeline

- **2024-05-09 — CIRP Init…**: Corporate Insolvency Resolution Process…
- **2024-05-09 — Appointment…**: Asish Giria was appointed as the…

## 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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