# In the matter of Intec India Limited

> NCLT judgment dated 2025-09-04. Citation: TCN-2025-NCLT-01393. An interlocutory application (IA 625/2024) was filed by Mecon Limited seeking the lifting of…

- **Court:** NCLT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLT-01393
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/intec-india-limited-0b866f5c

## Summary

### Background

An interlocutory application (IA 625/2024) was filed by Mecon Limited seeking the lifting of the moratorium imposed on Intec India Limited (Corporate Debtor) to reverse an erroneous fund transfer. Mecon Limited inadvertently transferred funds to Intec India Limited's account instead of Intec Infonet Private Limited.

## Facts

Mecon Limited inadvertently transferred funds to Intec India Limited instead of Intec Infonet Private Limited.

The funds transferred amounted to Rs. 35,22,923.62 and Rs. 14,39,566.33.

Intec India Limited is undergoing Corporate Insolvency Resolution Process (CIRP) and a moratorium has been imposed.

The Resolution Professional (RP) acknowledged the erroneous transfer but cited the moratorium as a reason for not being able to reverse the transaction.

The NCLT had previously admitted a petition under Section 7 of the IBC against Intec India Limited and initiated CIRP.

The applicant is not a stakeholder in the CIRP proceeding.

The corporate debtor has another account bearing No. 00710500786 with ICICI Bank situated at Safdarjung Enclave, New Delhi-110029.

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## Issues and analysis

### Issue 1: Whether the moratorium imposed under Section 14 of the IBC should prevent the reversal of an …

**Ratio:** The moratorium under Section 14 is intended to protect the Corporate Debtor during CIRP,

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**Reasoning:** The NCLT reasoned that the money came into the account of the Corporate Debtor wrongfully

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**Interpretation:** The moratorium should not be interpreted in a way that allows the Corporate

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**Application:** The NCLT applied this principle by directing the Resolution Professional to

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** B. A. Chandrasheka…; B. C. Padm…; +3 more
- **Respondents:** M/s. Intec India…
- **Other parties:** Lekhraj…
- **Advocates:** R.A.…; Abhishek…; +2 more

## Timeline

- **2019 — Company Petiti…**: Company Petition No. (IB) –…
- **2023-05-26 — CIRP Comm…**: The petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted by…

## 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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