# In the matter of INTERCON CONTAINER SURVEY AND COMMODITIES PRIVATE LIMITED

> NCLT judgment dated 2025-08-01. Citation: TCN-2025-NCLT-01194. The case pertains to an Interlocutory Application filed by the Resolution Professional for…

- **Court:** NCLT
- **Order date:** 1 Aug 2025
- **Citation:** TCN-2025-NCLT-01194
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/intercon-container-survey-and-commodities-private-limited-722bcfae

## Summary

### Background

The case pertains to an Interlocutory Application filed by the Resolution Professional for initiating Liquidation Process of Intercon Container Survey & Commodities PVT. LTD. The Corporate Insolvency Resolution Process (CIRP) was initiated on 15.09.2022.

## Facts

CIRP was initiated against Intercon Container Survey & Commodities PVT. LTD. on 15.09.2022.

The Corporate Debtor had no business operations since 2016.

The Corporate Debtor failed to maintain statutory financial records post FY 2014-15.

The Corporate Debtor had no employees, physical assets, or active bank balances.

The Corporate Debtor did not maintain a functional registered office.

The Committee of Creditors (CoC) comprised only one financial creditor, Bell Finvest India Limited.

The CoC resolved to initiate liquidation of the Corporate Debtor.

Mr. Debi Prasanna Sarangi was appointed as the Liquidator.

An application under Section 19(2) of the Code was earlier filed by the erstwhile IRP for non-cooperation.

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## 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 passed a resolution by 100% vote

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**Interpretation:** The Tribunal interpreted Section 33(2) to mean that if the CoC approves

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**Application:** The Tribunal applied Section 33(2) and

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Bell Finvest…
- **Respondents:** Intercon Container…
- **Other parties:** Devendra…; Debi Prasanna…
- **Advocates:** Ritika…; Vinit M…

## Timeline

- **2022-09-15 — Initiation…**: Corporate Insolvency Resolution Process…
- **2024-03-19 — Exclusion of Time from…**: An application was allowed excluding…

## 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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