# In the matter of Intec India Limited

> NCLT judgment dated 2025-09-04. Citation: TCN-2025-NCLT-01396. The case involves an application (IA 625/2024) filed by Mecon Limited seeking the lifting of…

- **Court:** NCLT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLT-01396
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/intec-india-limited-f9033404

## Summary

### Background

The case involves an application (IA 625/2024) 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 Rs. 35,22,923.62 and Rs. 14,39,566.33 to Intec India Limited instead of Intec Infonet Private Limited.

Intec India Limited is undergoing Corporate Insolvency Resolution Process (CIRP) initiated under Section 7 of the IBC, with a moratorium in place.

Mecon Limited is a public sector undertaking and not a party to the CIRP against Intec India Limited.

The Resolution Professional for Intec India Limited acknowledged the erroneous transfer but contended that the moratorium prevented him from reversing the transaction.

The funds transferred were not the assets of the Corporate Debtor (Intec India Limited) but were held in trust for the rightful beneficiary (Intec Infonet Private Limited).

## Issues and analysis

### Issue 1: Whether the moratorium imposed under Section 14 of the IBC can be lifted to allow the reversal of …

**Ratio:** The moratorium under Section 14 of the IBC is intended to protect the Corporate Debtor's

…

**Reasoning:** The Adjudicating Authority reasoned that the funds were transferred by mistake and were

…

**Interpretation:** Section 14 should be interpreted in a manner that balances the protection of

…

**Application:** The Adjudicating Authority directed the Resolution Professional to take steps

…

## 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…**: Order dated 26.05.2023 admitted the company petition and initiated Corporate Insolvency…

## 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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