# Silbhadar Vyappar Private Limited vs. Kordash Handlers and Logistics Private Limited

> NCLT judgment dated 6 Oct 2025. Citation: TCN-2025-NCLT-01466. The Company Petition bearing C.P. (IB) No. 120/BB/2024 was filed under Section 7 of the…

- **Court:** NCLT
- **Order date:** 6 Oct 2025
- **Citation:** TCN-2025-NCLT-01466
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/silbhadar-vyappar-private-limited-vs-kordash-handlers-and-logistics-private-limi-120fa96d

## Summary

### Background

The Company Petition bearing C.P. (IB) No. 120/BB/2024 was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Silbhadar Vyappar Private Limited to initiate Corporate Insolvency Resolution Process (CIRP) against Kordash Handlers and Logistics Private Limited. The CIRP was admitted on 06.11.2024, and Mr. Nitin Daga was appointed as Interim Resolution Professional (IRP).

## Facts

Silbhadar Vyappar Private Limited filed C.P. (IB) No. 120/BB/2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Kordash Handlers and Logistics Private Limited.

The CIRP was admitted on 06.11.2024.

Mr. Nitin Daga was appointed as Interim Resolution Professional (IRP).

The Committee of Creditors (CoC) was constituted on 28.11.2024.

Nine CoC meetings were conducted during the CIRP.

Two invitations for Expressions of Interest (EOI) were issued, but no resolution plans were received.

The CoC unanimously resolved to liquidate the Corporate Debtor under Section 33(1) of the Code on 25.07.2025.

Mrs. Rashmi Chhawchharia was approved as Liquidator by the CoC.

The estimated liquidation cost for six months was ₹37,30,700.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation under …

**Ratio:** Section 33(1) of the IBC, 2016, states that if the Adjudicating Authority does not

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**Reasoning:** The CoC unanimously resolved to liquidate the Corporate Debtor due to the lack of

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**Interpretation:** Section 33(1) mandates liquidation

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**Application:** Since no resolution plan was received and the CoC approved liquidation, the

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Silbhadar Vyapaar…
- **Respondents:** Kordash Handlers…
- **Other parties:** Insolvency and…; Corporate…; +3 more

## Timeline

- **06.11.2024 — Admission o…**: The Corporate Insolvency Resolution Process (CIRP) was admitted against Kordash Handlers…
- **28.11.2024 — Constitution…**: The Committee of…

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