# In the matter of UNIT CONSTRUCTION CO PVT LTD

> NCLT judgment dated 2026-02-12. Citation: TCN-2026-NCLT-00176. The case involves an application by Invent Assets Securitisation and Reconstruction Private…

- **Court:** NCLT
- **Order date:** 12 Feb 2026
- **Citation:** TCN-2026-NCLT-00176
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/unit-construction-co-pvt-ltd-f29a1596

## Summary

### Background

The case involves an application by Invent Assets Securitisation and Reconstruction Private Limited, acting as a trustee, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Unit Construction Company Private Limited. The Corporate Debtor was previously subject to winding-up proceedings initiated by Jyoti Udyog in the High Court at Calcutta, which were later transferred to the National Company Law Tribunal (NCLT), Kolkata.

## Facts

Jyoti Udyog filed a company petition against Unit Construction Company Private Limited for winding up before the High Court at Calcutta, which was admitted on 07.05.2013.

The High Court directed the Corporate Debtor to repay certain sums of money on 25.06.2014, failing which winding up would follow, and the Official Liquidator was granted liberty to take possession of assets.

The Corporate Debtor filed an application seeking modification of the order, which was disposed of on 18.09.2014, directing adherence to the original order.

The High Court clarified on 07.05.2015 that the Corporate Debtor had gone into liquidation by virtue of the order dated 25.06.2014.

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## Issues and analysis

### Issue 1: Whether the application for initiating CIRP is maintainable under Section 60(5) of the Insolvency …

**Ratio:** Section 60(5) of the IBC provides the NCLT with jurisdiction to entertain any application

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**Reasoning:** The application was filed under Section 60(5) of the IBC, read with Rule 11 of the NCLT

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**Interpretation:** The NCLT has the authority to hear and adjudicate matters related to the

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**Application:** The NCLT considered the application and the submissions made by the applicant's

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Invent Assets…; M/S JYOTI…
- **Respondents:** Unit Construction…
- **Other parties:** State Bank of…; IDBI…; +2 more
- **Advocates:** D.N. Sh…; Santosh Kum…; +5 more

## Timeline

- **07.05.2013 — Admission of Company…**: The Hon'ble High Court at Calcutta admitted the Company Petition No. 45 of 2013 filed by…
- **25.06.2014 — High Court…**: The Hon'ble High Court directed the Corporate Debtor to repay certain sums of money,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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