# In the matter of Morarjee Textiles Limited

> NCLT judgment dated 2025-04-09. Citation: TCN-2025-NCLT-01084. Nirmal Ujjwal Credit Co-operative Society Ltd. filed an application (IA 880/2025) against the…

- **Court:** NCLT
- **Order date:** 9 Apr 2025
- **Citation:** TCN-2025-NCLT-01084
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/morarjee-textiles-limited-218d72da

## Summary

### Background

Nirmal Ujjwal Credit Co-operative Society Ltd. filed an application (IA 880/2025) against the Resolution Professional of Morarjee Textiles Limited, seeking reliefs under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The applicant sought to quash an email, reinstate them as an eligible Prospective Resolution Applicant (PRA), and direct the RP and CoC to consider their resolution plan.

## Facts

Nirmal Ujjwal Credit Co-operative Society Ltd. filed IA 880/2025 seeking to be reinstated as an eligible Prospective Resolution Applicant (PRA) for Morarjee Textiles Limited.

The Resolution Professional (RP) disqualified the applicant based on Section 29A of the IBC, citing the disqualification of Mr. Pramod Manmode, a director in the Applicant Society, under Section 164(2) of the Companies Act, 2013.

Ambicio Infotech Private Limited, a company where Mr. Pramod Manmode held directorship, failed to file financial statements for three years and was struck off from the Register of Members.

The applicant's bye-laws and the Multi-State Co-operative Societies Act, 2002, were examined to determine if the applicant could invest in the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the Applicant is ineligible under Section 29A of the IBC, 2016 due to the disqualification …

**Ratio:** Section 29A of the IBC disqualifies a person from submitting a resolution plan if such

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**Reasoning:** Mr. Pramod Manmode was a director in Ambicio Infotech Private Limited, which failed to

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**Interpretation:** The tribunal interpreted Section 29A(j) of the IBC, which disqualifies a person

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**Application:** The tribunal applied the provisions of Section 29A and Section 164(2) to the

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Nirmal Ujjwal…
- **Respondents:** Morarjee Textiles…; Ravi Se…
- **Other parties:** Pramod Ma…; Axis Bank L…
- **Advocates:** Vikram Na…; Shyam Ka…; +6 more

## Timeline

- **2025-04-09 — Order Del…**: Order delivered on…
- **2024-05-18 — EOI Submi…**: Applicant submitted its…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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