# In the matter of Smart I Security & Automation Private Limited

> NCLT judgment dated 2025-05-01. Citation: TCN-2025-NCLT-00986. The case involves an Interlocutory Application filed under Section 33 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 1 May 2025
- **Citation:** TCN-2025-NCLT-00986
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/smart-i-security-amp-automation-private-limited-4d255789

## Summary

### Background

The case involves an Interlocutory Application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016, for initiating Liquidation Process in the case of Smart I Security & Automation Pvt. Ltd (Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) was initiated vide order dated 18.08.2023 upon admission of a Company Petition under Section 9.

## Facts

CIRP was initiated against Smart I Security & Automation Pvt. Ltd on 18.08.2023.

Mr. Ajay Gupta was initially appointed as IRP but declined the appointment.

Mrs. Bharati Daga was appointed as IRP and later confirmed as Resolution Professional.

The Resolution Professional received three claims from Operational Creditors.

The Resolution Professional conducted the 5th Committee of Creditors (COC) meeting on 24.05.2024.

The COC decided to initiate Liquidation proceedings with 99.64% voting in favor.

No Resolution Plan was received for the Corporate Debtor.

Mr. Rajendra Kumar Girdhar was appointed as Liquidator.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated due to the absence of a Resolution Plan and the …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows for liquidation

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**Reasoning:** The Committee of Creditors voted with 99.64% in favor of liquidation, and no Resolution

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**Interpretation:** The absence of a Resolution Plan and the overwhelming support from the COC for

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**Application:** The Tribunal applied Section 33(2) and the decision of the COC to order the

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## Parties

- **Judges:** SANJIV…; ASHISH…
- **Appellants:** PSV Consu…
- **Respondents:** Smart I Security…
- **Other parties:** Rajendra Kumar…; Ajay G…; +1 more
- **Advocates:** Raina B…

## Timeline

- **2023-08-18 — Initiation…**: Corporate Insolvency Resolution Process (CIRP) was initiated against Smart I Security &…
- **2023-12-04 — Appointment…**: Mrs. Bharati Daga was appointed…

## 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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