# Dabir Developers Private Limited vs. European Projects & Aviation Limited

> NCLT judgment dated 2026-09-03. Citation: TCN-2026-NCLT-00946. M/s. Dabir Developers Private Limited, the Financial Creditor, initiated Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 3 Sept 2026
- **Citation:** TCN-2026-NCLT-00946
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/dabir-developers-private-limited-vs-european-projects-aviation-limited-ybmzr

## Summary

### Background

M/s. Dabir Developers Private Limited, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. European Projects & Aviation Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted, and an Interim Resolution Professional (IRP) was appointed, who was later replaced by Mr. Laxmikant Yeshwant Desai as the Resolution Professional (RP). During the CIRP, the Committee of Creditors (CoC) held several meetings. In its 4th and 5th meetings, the CoC unanimously resolved to initiate liquidation proceedings against the Corporate Debtor due to its prolonged inactivity, absence of employees and assets, lack of business revenue since FY 2012, and the failure to receive any viable

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## Facts

M/s. Dabir Developers Private Limited, the Financial Creditor, filed a petition under Section 7 of the IBC, 2016, against M/s. European Projects & Aviation Limited, the Corporate Debtor, before the NCLT, Mumbai Bench, on 16.09.2024.

The Section 7 petition was admitted by order dated 27.03.2025, and Mr. Manoj Kumar Jain was appointed as the Interim Resolution Professional (IRP).

The certified copy of the admission order was received on 01.04.2025.

The IRP published a Public Announcement (Form A) inviting claims from creditors on 02.04.2025 and 03.04.2025 in various newspapers.

M/s. Dabir Developers Private Limited deposited Rs.2,00,000/- towards CIRP costs into the Corporate Debtor's bank account.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. European Projects & Aviation Limited, should be liquidated …

**Ratio:** The Adjudicating Authority is mandated to pass a liquidation order if no resolution plan

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**Reasoning:** The CIRP period for the Corporate Debtor expired on 23.09.2025 without any resolution

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**Interpretation:** Section 33(1) of the Code provides for mandatory liquidation if a resolution

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**Application:** Given the expiry of the CIRP period without a resolution plan, the Corporate

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## Parties

- **Judges:** Vinay…; Charanjeet Singh…
- **Appellants:** Dabir Developers…; M/s. Dabir…; +1 more
- **Respondents:** M/s. European…; European Projects…
- **Other parties:** Committee of…; GTL Lim…; +3 more
- **Advocates:** Kartik Ir…; G. Aniruth…

## Timeline

- **2024-09-16 — Section 7 Petit…**: M/s. Dabir Developers Private Limited (Financial Creditor) filed a petition under Section…
- **2025-03-27 — Petition Admitted & IRP…**: The Section 7 petition was admitted, and Mr. Manoj Kumar Jain was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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