# In the matter of HARI OM AUTO COMPONENTS PRIVATE LIMITED

> NCLT judgment dated 2025-03-25. Citation: TCN-2025-NCLT-01037. The present Interlocutory Application (I.A.) has been filed under Section 33(1)(b)(i) to (iii)…

- **Court:** NCLT
- **Order date:** 25 Mar 2025
- **Citation:** TCN-2025-NCLT-01037
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/hari-om-auto-components-private-limited-ea4a9f50

## Summary

### Background

The present Interlocutory Application (I.A.) has been filed under Section 33(1)(b)(i) to (iii) r/w Section 33(3) and Section 33(2) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional (RP)/Applicant, Vallabh Narayandas Sawana, for initiating the liquidation process against Hari Om Auto Components Private Limited, the Corporate Applicant.

## Facts

The Corporate Applicant, Hari Om Auto Components Private Limited, filed C.P.(IB)/139(MB)/2023 under Section 10 of the IBC to initiate CIRP.

The Tribunal admitted the Company Petition and commenced CIRP vide order dated 12.06.2024.

Vallabh Narayandas Sawana was appointed as the Interim Resolution Professional (IRP).

The Committee of Creditors (CoC) consisted of Vasai Vikas Sahakari Bank Ltd. as the sole Financial Creditor with 100% voting rights and an admitted claim of Rs. 6,42,60,205/-.

The CoC unanimously approved the resolution for liquidation of the Corporate Applicant in the second CoC meeting held on 29.07.2024.

The RP was authorized to sign, execute, and file necessary documents for the liquidation process.

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## Issues and analysis

### Issue 1: Whether the CoC can initiate liquidation before inviting resolution plans under Section 33(2) of …

**Ratio:** Section 33(2) of the Code read with its Explanation clause empowers the CoC to initiate

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**Reasoning:** The legislature has consciously used the words 'any time' for liquidation even before

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**Interpretation:** The power given to the CoC to take decision for liquidation is of wide

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**Application:** The Bench considered the statutory construct of IBC and determined that it is

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## Parties

- **Judges:** SANJIV…; ASHISH…
- **Appellants:** Vallabh Narayandas…
- **Respondents:** Hari Om Auto…
- **Other parties:** Vasai Vikas…; Krishna Gopal…
- **Advocates:** Manoj M…

## Timeline

- **2024-06-12 — CIRP Commen…**: The Tribunal admitted the Company Petition and commenced CIRP of Corporate Applicant vide…
- **2024-06-25 — Public Annou…**: The IRP published a Public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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