# In the matter of C. MAHENDRA EXPORTS LIMITED

> NCLT judgment dated 2025-07-29. Citation: TCN-2025-NCLT-01172. The case involves an Interlocutory Application filed by the Resolution Professional, Jayanti…

- **Court:** NCLT
- **Order date:** 29 Jul 2025
- **Citation:** TCN-2025-NCLT-01172
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/c-mahendra-exports-limited-274c4fef

## Summary

### Background

The case involves an Interlocutory Application filed by the Resolution Professional, Jayanti Lal Jain, under Section 33 of the Insolvency and Bankruptcy Code, 2016, for initiating the Liquidation Process against M/s C. Mahendra Exports Limited (Corporate Debtor). The CIRP was initiated on 04.10.2024.

## Facts

An Interlocutory Application was filed by the Resolution Professional under Section 33 of the IBC for initiating Liquidation Process against M/s C. Mahendra Exports Limited.

The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2024.

The IRP/Applicant issued a Public Announcement dated 09.10.2024.

The first meeting of the Committee of Creditors was held on 06.11.2024.

The CoC voted with a 76.38% majority to appoint the erstwhile IRP as the erstwhile RP and approve his proposed fee.

The CoC voted with a 72.12% majority approval for liquidation.

Mr. Krishna Chamadia was appointed as Liquidator.

…

## Issues and analysis

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

**Ratio:** Section 33(2) of the Code provides that where the resolution professional intimates the

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**Reasoning:** The CoC has passed a Resolution by 72.12% vote to liquidate the Corporate Debtor and

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**Interpretation:** The Tribunal considers it appropriate to liquidate the Corporate Debtor by

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**Application:** The Application is allowed, and the Corporate Debtor, M/s C. Mahendra Exports

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Bank of B…; Jayanti La…
- **Respondents:** C. Mahendra…
- **Other parties:** UBI…; PNB…; +2 more
- **Advocates:** Aniruth Pursothama…

## Timeline

- **04.10.2024 — Initiation…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by…
- **09.10.2024 — Public Annou…**: The IRP/Applicant issued a Public Announcement dated 09.10.2024 in Form A [Under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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