# In the matter of NIMIT STEELS AND ALLOYS PRIVATE LIMITED

> NCLT judgment dated 2025-11-06. Citation: TCN-2025-NCLT-01643. Bank of India, a secured creditor, filed an application seeking the appointment of a liquidator…

- **Court:** NCLT
- **Order date:** 6 Nov 2025
- **Citation:** TCN-2025-NCLT-01643
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/nimit-steels-and-alloys-private-limited-841abbf7

## Summary

### Background

Bank of India, a secured creditor, filed an application seeking the appointment of a liquidator for the Corporate Debtor.

## Facts

Bank of India is the applicant and a secured creditor.

Nimit Steel & Alloys Pvt Ltd is the Corporate Debtor.

Mr. Amit Gupta, the previous liquidator, was suspended by the Disciplinary Committee of IBBI.

Ms. Akriti Sood is appointed as the new liquidator.

The Joint Lender Meeting was held on 22.08.2025.

## Issues and analysis

### Issue 1: Whether the tribunal should appoint a new liquidator for the Corporate Debtor due to the suspension …

**Ratio:** The Disciplinary Committee of IBBI

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**Reasoning:** The previous liquidator was suspended, necessitating the appointment of a new liquidator

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**Interpretation:** The tribunal has the authority to appoint a new liquidator when the previous

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**Application:** The tribunal appointed Ms.

…

## Parties

- **Judges:** LAKSHMI G…; Hariharan…
- **Appellants:** Bank of…
- **Respondents:** Nimit Steel &…
- **Other parties:** Amit G…; Akriti…
- **Advocates:** Ruchita…

## Timeline

- **2025-11-06 — Order Sheet of the…**: Order sheet of the…
- **2025-08-22 — Joint Lender…**: Joint Lender Meeting…

## 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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