# State Bank of India vs. M/s Worlds Window Impex India Private Limited

> NCLT judgment dated 2026-07-10. Citation: TCN-2026-NCLT-00675. State Bank of India, as a Financial Creditor, initiated Corporate Insolvency Resolution Process…

- **Court:** NCLT
- **Order date:** 10 Jul 2026
- **Citation:** TCN-2026-NCLT-00675
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/state-bank-of-india-vs-ms-worlds-window-impex-india-private-limited-ssmed

## Summary

### Background

State Bank of India, as a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Worlds Window Impex India Private Limited (Corporate Debtor) under Section 7 of the IBC, 2016. Mr. Sanjay Gupta was appointed as the Interim Resolution Professional (IRP), followed by Mr. Kapil Dev Taneja as the Resolution Professional (RP). Claims were invited and verified, leading to the constitution of the Committee of Creditors (CoC). Expressions of Interest (EOIs) were invited, and two resolution plans were submitted by RKG Fund-I and Dickey Asset Management Private Limited.

## Facts

IA/1436/ND/2023 was filed by Mr. Kapil Dev Taneja, Resolution Professional of M/s Worlds Window Impex India Private Limited, seeking liquidation under Section 33(1) of the IBC, 2016.

The Company Petition (IB) No. 376/ND/2020 was filed under Section 7 of the Code by the Financial Creditor, State Bank of India.

Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 23.12.2021.

Mr. Sanjay Gupta was appointed as Interim Resolution Professional (IRP).

A public announcement in Form-A was made on 25.12.2021, with the last date for claims fixed as 07.01.2022.

One operational creditor and three financial creditors' claims were received and admitted.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s Worlds Window Impex India Private Limited, should be liquidated …

**Ratio:** The Committee of Creditors, exercising its commercial wisdom, rejected all resolution

…

**Reasoning:** The CoC, after detailed deliberations and granting extensions, rejected both resolution

…

**Interpretation:** Section 33(1) of the IBC empowers the Adjudicating Authority to pass a

…

**Application:** Given that the CoC, with a 98.26% voting share, rejected both resolution plans

…

## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** State Bank of…; Kapil Dev…
- **Respondents:** M/s Worlds Window…
- **Other parties:** Committee of…; Board of Di…; +6 more
- **Advocates:** P. Na…; Siddharth…; +9 more

## Timeline

- **2021-12-23 — CIRP Init…**: Company Petition (IB) No. 376/ND/2020 filed by State Bank of India was admitted, and…
- **2021-12-25 — Public Annou…**: The IRP made a public announcement in Form-A in compliance with Regulation 6 of the IBBI…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/state-bank-of-india-vs-ms-worlds-window-impex-india-private-limited-ssmed