# In the matter of Win Trendz Exim Private Limited

> NCLT judgment dated 2025-08-08. Citation: TCN-2025-NCLT-01208. The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 8 Aug 2025
- **Citation:** TCN-2025-NCLT-01208
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/win-trendz-exim-private-limited-0fc65eb1

## Summary

### Background

The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Win Trendz Exim Pvt Ltd, after the Committee of Creditors (CoC) resolved to initiate liquidation due to the lack of a viable resolution plan.

## Facts

Reliance Capital Limited filed a Company Petition No. 3804 of 2018 under Section 7 of the IBC to initiate CIRP against Win Trendz Exim Private Limited.

The Corporate Debtor was admitted into CIRP vide order dated 07.11.2019.

Pankaj Sham Joshi was appointed as the Interim Resolution Professional (IRP).

The Corporate Debtor is engaged in the business of cable subscriber services and internet service provider.

The IRP made a public announcement of CIRP initiation on 03.12.2019.

The Committee of Creditors (CoC) was constituted with three Financial Creditors: Reliance Commercial Finance Limited, Indostar Capital Finance Limited (Assigned to ARCIL), and India Overseas Bank.

No expression of interest was received from any prospective Resolution Applicant.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can pass an order …

**Ratio:** Section 33(2) of the Code provides that the Adjudicating Authority shall pass an order

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**Reasoning:** The CoC resolved to initiate liquidation with a majority of 78.8% vote due to the absence

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**Interpretation:** The Tribunal interpreted Section 33(2) to mean that if the CoC approves

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**Application:** The Tribunal applied Section 33(2) and approved the liquidation of the

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** Reliance Capital…; Pankaj Sham…; +1 more
- **Respondents:** Win Trendz Exim…; Win Trendz Exim…
- **Other parties:** Bharat Lekhraj…; Saraswati Bharat…; +5 more
- **Advocates:** Aayush Ko…

## Timeline

- **2018 — Company Petiti…**: Company Petition No. 3804 of 2018 was filed by Reliance Capital Limited under Section 7…
- **2019-11-07 — CIRP Admi…**: The Corporate Debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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