# Naveen Kumar Sood vs. Beeta Kone Tools

> NCLT judgment dated 9 Oct 2025. Citation: TCN-2025-NCLT-01468. An application was filed by the Resolution Professional of GEI Industrial Systems Limited,…

- **Court:** NCLT
- **Order date:** 9 Oct 2025
- **Citation:** TCN-2025-NCLT-01468
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/naveen-kumar-sood-vs-beeta-kone-tools-584a1e54

## Summary

### Background

An application was filed by the Resolution Professional of GEI Industrial Systems Limited, seeking orders for the liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Beeta Kone Tools. The RP was appointed and confirmed by the Committee of Creditors (CoC). Several attempts were made to find a viable resolution plan, but none were successful.

## Facts

An application was filed by Mr. Naveen Kumar Sood, the Resolution Professional of GEI Industrial Systems Limited, seeking liquidation orders.

The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by Beeta Kone Tools against GEI Industrial Systems Limited.

Mr. Naveen Kumar Sood was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional by the Committee of Creditors (CoC).

The CIRP period was extended, but no viable Resolution Plan was received.

The suspended management filed interlocutory applications with tentative plans, seeking deferment of liquidation, which were rejected by the CoC.

The Corporate Debtor was confirmed to be covered under the MSME category.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be ordered into liquidation under Section 33 of the Insolvency …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016 provides that where the

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**Reasoning:** The CoC resolved with 66.55% voting share to liquidate the Corporate Debtor and

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**Interpretation:** The provision of Section 33(2) is interpreted to mean that if the CoC with

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**Application:** In this case, the CoC has resolved to liquidate the Corporate Debtor with a

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## Parties

- **Judges:** Mohan P.…; SANJEEV S…
- **Appellants:** Naveen Kuma…
- **Respondents:** GEI Industrial…; Beeta Kone…
- **Other parties:** Corporate…; Liquida…; +4 more

## Timeline

- **2017-07-20 — Initiation…**: The Tribunal admitted an application filed by Beeta Kone Tools against GEI Industrial…
- **2018-04-20 — Application for…**: The Resolution Professional filed an application (IA 181 of 2018) seeking orders for…

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