# In the matter of AUTONEEDS (INDIA) PRIVATE LIMITED

> NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01574. The case involves an application filed by the Resolution Professional of M/s Auto Needs (India)…

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01574
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/autoneeds-india-private-limited-e56a51ed

## Summary

### Background

The case involves an application filed by the Resolution Professional of M/s Auto Needs (India) Private Limited seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Resolution Professional, Mrs. Rashmi Mintri, filed an application seeking liquidation of M/s Auto Needs (India) Private Limited.

The CIRP was initially triggered by Akasa Finance Limited (formerly Pooja Finelease Limited) under Section 7 of the IBC.

The CIRP was revived after the Corporate Debtor failed to honor settlement terms.

The CoC approved liquidation with 100% voting share in its 8th meeting held on 13.06.2025.

The Resolution Professional filed a contempt application due to non-cooperation by the suspended directors.

A forensic audit identified fraudulent transactions amounting to ₹9.09 Crores.

No Expressions of Interest (EOIs) were received from prospective resolution applicants.

The CoC recommended the name of Mr. Hans Raj Bhogra as the Liquidator.

## Issues and analysis

### Issue 1: Whether the requirements of Section 33(2) of the Insolvency and Bankruptcy Code, 2016, have been …

**Ratio:** Section 33(2) of the Code allows for liquidation if the CoC approves it with a 66% voting

…

**Reasoning:** The CoC approved liquidation with 100% voting

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**Interpretation:** The requirements of

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**Application:** The Adjudicating Authority is satisfied that the conditions for liquidation

…

## Parties

- **Judges:** JYOTSNA S…; RAVINDRA CHATURVED…
- **Appellants:** M/s. Pooja…; Rashmi M…
- **Respondents:** M/s Auto Needs…; M/s. Auto Needs…
- **Other parties:** AKASA FINANCE…; Pooja Finelease…; +2 more
- **Advocates:** Riya Th…

## Timeline

- **2019-12-20 — CIRP Init…**: Corporate Insolvency Resolution…
- **2020-02-05 — CIRP With…**: Proceedings were withdrawn after…

## 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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