# Manish Lalji Dawda vs. J Modi Venture Private Limited

> NCLT judgment dated 2026-09-08. Citation: TCN-2026-NCLT-01025. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s J Modi Venture…

- **Court:** NCLT
- **Order date:** 8 Sept 2026
- **Citation:** TCN-2026-NCLT-01025
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/mr-manish-lalji-dawda-vs-ms-j-modi-venture-private-limited-3zyww

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s J Modi Venture Private Limited, with Mr. Manish Lalji Dawda appointed as the Interim Resolution Professional (IRP). A Committee of Creditors (CoC) was constituted, primarily comprising The Mehsana Urban Co-operative Bank Ltd. A Prospective Resolution Applicant (PRA) submitted a resolution plan after the prescribed deadline, and their request for an extension was rejected by the CoC. Consequently, the CoC unanimously resolved to proceed with the liquidation of the Corporate Applicant.

## Facts

The Interlocutory Application IA(IBC)(LIQ.)/63(MB)2026 in C.P. (IB)/62(MB)2026 was filed by Resolution Professional Manish Lalji Dawda.

The application seeks to initiate the Liquidation Process against M/s J Modi Venture Private Limited (Corporate Applicant).

The Committee of Creditors (CoC) unanimously resolved to initiate liquidation in its sixth meeting held on 19.08.2026.

The Corporate Insolvency Resolution Process (CIRP) of the Corporate Applicant was initiated on 05.03.2026 under Section 10 of the IBC, 2016.

Mr. Manish Lalji Dawda was appointed as the Interim Resolution Professional (IRP) for the Corporate Applicant.

A Public Announcement was made by the Applicant on 07.03.2026 in two newspapers.

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## Issues and analysis

### Issue 1: Whether the Corporate Applicant, M/s J Modi Venture Private Limited, should be liquidated under the …

**Ratio:** The Corporate Applicant must be liquidated as no resolution plan was received by the

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

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**Interpretation:** The Adjudicating Authority's power to order liquidation under Section 33(1)(a)

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**Application:** Given that no resolution plan was received by the Tribunal for M/s J Modi

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## Parties

- **Judges:** SH. PRABHAT…; SH. SUSHIL…
- **Appellants:** Manish Lalj…
- **Respondents:** M/s J Modi…; J Modi Venture…
- **Other parties:** The Mehsana Urban…; RSDS Advisory &…
- **Advocates:** Abha P…

## Timeline

- **2026-03-05 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of J Modi Venture Private Limited…
- **2026-03-07 — Public Annou…**: Applicant (IRP) made 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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