# M/s. Loveni Marketing & Advertising Pvt. Ltd. vs. M/s. SN Cinema Advertising Pvt. Ltd.

> NCLT judgment dated 9 Oct 2025. Citation: TCN-2025-NCLT-01467. The application was filed by the Resolution Professional under Section 33(2) read with Section…

- **Court:** NCLT
- **Order date:** 9 Oct 2025
- **Citation:** TCN-2025-NCLT-01467
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/ms-loveni-marketing-advertising-pvt-ltd-vs-ms-sn-cinema-advertising-pvt-ltd-99977884

## Summary

### Background

The application was filed by the Resolution Professional under Section 33(2) read with Section 33(1)(b)(i), (ii), (iii) and Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Liquidation of the Corporate Debtor.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by the Adjudicating Authority vide order dated 03.01.2023 pursuant to Section 7 Application filed by the Financial Creditor, M/s Loveni Marketing & Advertising Private Limited.

Mr. Parveen Kumar Jain was appointed as the Interim Resolution Professional.

The Applicant made a Public Announcement in two newspapers, namely Financial Express (English) Delhi NCR and JanSatta (Hindi) for invitation of claims in the CIRP of the Corporate Debtor.

On 20.01.2023, the applicant conducted a meeting with the Suspended Board of Directors (SBD) for the purpose of discussing the operations of the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the present application filed by the RP under Section 33(2) read with Section 33(1)(b) of …

**Ratio:** Section 33(2) of the Code empowers the RP to file for liquidation when continuation of

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**Reasoning:** The Adjudicating Authority observed that multiple requests were made to the SBD to

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**Interpretation:** The commercial wisdom of the CoC is binding upon the Adjudicating Authority and

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**Application:** In light of the above, it is evident that the CIRP continuation is no longer

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## Parties

- **Judges:** BACHU VENKAT…; Sanjeev R…
- **Appellants:** M/s. SN Cinema…
- **Respondents:** M/s. Loveni…
- **Other parties:** Insolv…; Corporate…; +7 more

## Timeline

- **03.01.2023 — CIRP Init…**: CIRP of the Corporate Debtor was initiated pursuant to an order under Section 7 of the…
- **20.01.2023 — Meeting wi…**: IRP convened a meeting with the Suspended Board of Directors to obtain documents and…

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