# In the matter of FOXDOM TECHNOLOGIES PRIVATE LIMITED

> NCLT judgment dated 2025-08-21. Citation: TCN-2025-NCLT-01280. An application was filed by Shimping Technology Pvt. Ltd. (Financial Creditor) to initiate…

- **Court:** NCLT
- **Order date:** 21 Aug 2025
- **Citation:** TCN-2025-NCLT-01280
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/foxdom-technologies-private-limited-0f0d586d

## Summary

### Background

An application was filed by Shimping Technology Pvt. Ltd. (Financial Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Foxdom Technologies Pvt. Ltd. (Corporate Debtor) under Section 7 of the Code. The Adjudicating Authority admitted the application on 03.02.2023 and appointed Mr. Shailendra Singh as the Interim Resolution Professional, who was later confirmed as the Resolution Professional by the Committee of Creditors (CoC).

## Facts

An application under Section 7 of the IBC was filed by Shimping Technology Pvt. Ltd. against Foxdom Technologies Pvt. Ltd.

The application was admitted on 03.02.2023, and a moratorium was declared.

Mr. Shailendra Singh was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.

The Committee of Creditors (CoC) was constituted with M/s Shimping Technology Pvt. Ltd. as the sole financial creditor.

The Corporate Debtor's bank account was frozen by the Directorate of Enforcement (ED) due to a PMLA investigation.

Despite multiple extensions, no resolution plan was received.

The CoC resolved to initiate liquidation of the Corporate Debtor.

The Resolution Professional filed an application for liquidation under Section 33(2) of the IBC.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation under …

**Ratio:** Section 33(2) of the IBC allows for the initiation of liquidation if the Adjudicating

…

**Reasoning:** The CIRP period had ended, and no resolution plan was received. The CoC had resolved to

…

**Interpretation:** The Adjudicating Authority interpreted Section 33(2) to permit the initiation

…

**Application:** The Adjudicating Authority applied Section 33(2) and allowed the application

…

## Parties

- **Judges:** BACHU VENKAT…; Sanjeev R…
- **Appellants:** M/S. SHIMPING…; Shailendra…
- **Respondents:** M/S. FOXDOM…; SAMIR S…; +1 more
- **Other parties:** PARVEEN KUM…
- **Advocates:** Gautam Si…; Rajat Cha…; +4 more

## Timeline

- **03.02.2023 — Admission…**: The Adjudicating Authority admitted the application under Section 7 of the IBC and…
- **11.02.2023 — Public Annou…**: A public announcement in Form A…

## 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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