# Marguisa Shipping Lines S.L.U vs. Simon Shipping Private Limited

> NCLT judgment dated 2026-09-23. Citation: TCN-2026-NCLT-01058. The Corporate Insolvency Resolution Process (CIRP) for Simon Shipping Private Limited was…

- **Court:** NCLT
- **Order date:** 23 Sept 2026
- **Citation:** TCN-2026-NCLT-01058
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/marguisa-shipping-lines-slu-vs-simon-shipping-private-limited-ee1ho

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) for Simon Shipping Private Limited was initiated on 10.07.2023 by Marguisa Shipping Lines S.L.U. Ms. Snehal Arvind Kamdar was appointed as the Interim Resolution Professional (IRP), followed by Mr. Girish Krishna Hingorani as the Resolution Professional (RP). Despite public announcements, no Expression of Interest (EOI) or resolution plan was received. The Corporate Debtor had ceased operations for over three years. An earlier application for liquidation under Section 33(2) of the IBC was dismissed on 27.01.2026 because it was filed after the expiry of the CIRP period.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of Simon Shipping Private Limited was initiated on 10.07.2023 in CP (IB) 1116 of 2021 under Section 9 of the Code, filed by Marguisa Shipping Lines S.L.U (Operational Creditor).

Ms. Snehal Arvind Kamdar was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.

The IRP made a Public Announcement in Form A on 13.07.2023, inviting claims from creditors on or before 25.07.2023.

The Committee of Creditors (CoC) was constituted, and its report was taken on record by the Tribunal on 11.08.2023.

The IRP issued a Public Announcement in Form G on 23.09.2023, inviting Expression of Interest (EOI) for resolution plans, with the last date for submission being 08.10.2023; however, no EOI was received.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Simon Shipping Private Limited, should be liquidated under Section …

**Ratio:** Section 33(1)(a) of the IBC, 2016, mandates the Adjudicating Authority to pass a

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**Reasoning:** The CIRP period, including the 90-day extension, expired on 15.05.2024, totaling 270

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**Interpretation:** Section 33(1) provides a clear statutory trigger for liquidation when the

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**Application:** Given that no resolution plan was received for Simon Shipping Private Limited

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## Parties

- **Judges:** SH. VINAY…; SH. CHARANJEET…
- **Appellants:** Marguisa Shipping…; Girish Krishna…
- **Respondents:** Simon Shipping…
- **Other parties:** Committee of…; Snehal Arvind…; +1 more
- **Advocates:** Bhupendra…

## Timeline

- **2023-07-10 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of Simon Shipping Private Limited was…
- **2023-07-13 — Public Announcement by…**: The Interim Resolution Professional (IRP) made a Public Announcement in Form A, inviting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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