# In the matter of Comex Infratech Private Limited

> NCLT judgment dated 2025-07-03. Citation: TCN-2025-NCLT-00762. M/S Comex Infratech Pvt. Ltd. filed an application under Section 10 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 3 Jul 2025
- **Citation:** TCN-2025-NCLT-00762
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/comex-infratech-private-limited-6a3f0b0b

## Summary

### Background

M/S Comex Infratech Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP).

## Facts

M/S Comex Infratech Pvt. Ltd. filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The application was for initiating the Corporate Insolvency Resolution Process (CIRP).

The Corporate Applicant declared a financial default of Rs. 18,79,56,633.

The Corporate Applicant availed credit facilities from Dena Bank (now Bank of Baroda).

Dena Bank invoked the guarantee under Section 13(2) of the SARFAESI Act, 2002.

The Corporate Applicant held an Extra Ordinary General Meeting on 09.02.2024 and passed a special resolution for filing an application under Section 10 of the Code.

The creditor bank stated it had no objection to the admission of the application under Section 10 of the Code.

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## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, should be …

**Ratio:** The Adjudicating Authority can admit the application if it is complete and there is a

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**Reasoning:** The Corporate Applicant complied with the provisions of the code and annexed all the

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**Interpretation:** Section 10 of the Insolvency and Bankruptcy Code, 2016, allows a corporate

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**Application:** The application was admitted as the

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## Parties

- **Judges:** Ramalingam…; RAVINDRA CHATURVED…
- **Respondents:** M/S Comex…
- **Other parties:** Jatinder Singh…; Dena Bank (Now…; +4 more
- **Advocates:** Rajesh…; Ms Sangeeta…; +1 more

## Timeline

- **2024-03-22 — Application…**: M/s Comex Infratech Pvt. Ltd. filed the application under Section 10 of the Insolvency…
- **2024-02-09 — Extra Ordinary General…**: The Corporate Applicant held an Extra Ordinary General Meeting and passed a special…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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