# In the matter of STATOMAT SPECIAL MACHINES (INDIA) PRIVATE LIMITED

> NCLT judgment dated 2026-03-20. Citation: TCN-2026-NCLT-00258. The Corporate Insolvency Resolution Process (CIRP) of Statomat Special Machines (India) Private…

- **Court:** NCLT
- **Order date:** 20 Mar 2026
- **Citation:** TCN-2026-NCLT-00258
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/statomat-special-machines-india-private-limited-a11674f6

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) of Statomat Special Machines (India) Private Limited was initiated by Schaeffler Elmotec Statomat GmbH under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was admitted on 28th November 2025, and Mr. Shailesh Bhalchandra Desai was appointed as the Interim Resolution Professional.

## Facts

CIRP initiated against Statomat Special Machines (India) Private Limited by Schaeffler Elmotec Statomat GmbH.

Mr. Shailesh Bhalchandra Desai appointed as Interim Resolution Professional.

VGVS & Co. admitted as Operational Creditor with a claim of Rs. 3,50,289/-.

Schaeffler Elmotec Statomat GmbH excluded from CoC due to being a related party.

VGVS & Co. became the sole member of the CoC.

VGVS & Co. filed an application seeking replacement of IRP and appointment of Mr. Manoj Sehgal as Resolution Professional.

Financial Creditor discharged VGVS & Co.'s claim.

VGVS & Co. filed Form FA seeking withdrawal of CIRP.

Tribunal allowed liquidation of the Corporate Debtor.

Mr. Shailesh Desai appointed as Liquidator.

## Issues and analysis

### Issue 1: Whether the CIRP can continue when the sole …

**Ratio:** The CIRP cannot proceed

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**Reasoning:** The only remaining creditor is the Financial Creditor, who is a related party and

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**Interpretation:** The IBC requires a CoC to

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**Application:** Since there is no eligible creditor to constitute a CoC, the CIRP cannot

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** VGVS & Co.…; Schaeffler…
- **Respondents:** Statomat Special…
- **Other parties:** Manoj S…; Shailesh Bhalchand…; +1 more
- **Advocates:** Anand…; Aniruth Purusotham…; +3 more

## Timeline

- **2025-11-28 — CIRP Admi…**: CIRP admitted against Statomat Special…
- **N/A — IRP Appoi…**: Mr. Shailesh Bhalchandra Desai appointed…

## 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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