# In the matter of Esteem Press Parts Pvt. Ltd.

> NCLT judgment dated 2026-04-07. Citation: TCN-2026-NCLT-00339. The case involves an application (IA 4272/2025) filed by Mr. Vinod Balasaheb Dongare, the…

- **Court:** NCLT
- **Order date:** 7 Apr 2026
- **Citation:** TCN-2026-NCLT-00339
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/esteem-press-parts-pvt-ltd-9573028a

## Summary

### Background

The case involves an application (IA 4272/2025) filed by Mr. Vinod Balasaheb Dongare, the Resolution Professional of Esteem Press Parts Pvt. Ltd. (Corporate Debtor), under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking directions regarding fraudulent transactions.

## Facts

Mr. Vinod Balasaheb Dongare, the Resolution Professional of Esteem Press Parts Pvt. Ltd., filed IA 4272/2025 under Section 66 of the IBC.

The application seeks directions regarding fraudulent transactions amounting to Rs. 2,46,01,291.

The Corporate Debtor's CIRP was initiated based on an application under Section 10 of the IBC.

The Applicant observed discrepancies during inspection and verification of the assets, noting that assets seemed to be missing from the site.

The Applicant appointed M/s. Ujjwal Gupta & Co. as Transaction Auditor to conduct an audit on avoidance transactions.

The Transaction Auditor's report flagged suspicious transactions under Section 66, including removal of inventories and misappropriation of fixed assets.

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## Issues and analysis

### Issue 1: Whether the sale of inventory by the Corporate Debtor constitutes a fraudulent transaction under …

**Ratio:** The Adjudicating Authority found that the sale of inventory did not fall within the ambit

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**Reasoning:** The Respondents provided a plausible explanation for the sale of inventory as scrap due

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**Interpretation:** The Authority interpreted Section 66(1) of the IBC to require a clear intent to

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**Application:** The Authority applied the test of preponderance of probability and found that

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Vinod Balasaheb…
- **Respondents:** Esteem Press…; Raghunathan…; +1 more
- **Advocates:** Raina B…; Henna…; +1 more

## Timeline

- **2025-01-08 — CIRP Init…**: Adjudicating Authority allowed the application seeking initiation of CIRP and appointed…
- **2025-03-20 — Email to Suspended…**: Applicant sent an e-mail to the suspended director seeking clarification regarding…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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