# In the matter of TECPRO SYSTEMS LIMITED

> NCLT judgment dated 2026-01-09. Citation: TCN-2026-NCLT-00084. The case involves applications related to the liquidation process of Tecpro Systems Ltd.…

- **Court:** NCLT
- **Order date:** 9 Jan 2026
- **Citation:** TCN-2026-NCLT-00084
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/tecpro-systems-limited-fc6409e5

## Summary

### Background

The case involves applications related to the liquidation process of Tecpro Systems Ltd. Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner. The liquidator, Mr. Ramachandran Subramanian, filed an application (IA-4269/ND/2024) seeking directions and declarations regarding EARCL's status as a related party and its voting rights in the Stakeholders Consultation Committee (SCC).

## Facts

Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner.

Tecpro Systems Ltd. is the Corporate Debtor undergoing liquidation.

Mr. Ramachandran Subramanian is the Liquidator.

IA-4269/ND/2024 was filed by the liquidator seeking a declaration that EARCL is a related party and to restrain it from voting in the SCC.

EARCL disposed of certain properties of the Corporate Debtor under the SARFAESI Act, 2002.

EARCL remained a member of the CoC with 85.37% vote share during the CIRP.

The SCC passed a resolution to replace Mr. Ramachandran Subramanian with Mr. Anil Kohli as Liquidator.

The CIRP commenced on 07.08.2017, and liquidation commenced on 16.01.2020.

## Issues and analysis

### Issue 1: Whether EARCL, by disposing of properties under the SARFAESI Act and writing letters to the …

**Ratio:** The tribunal held that merely extending financial facilities and instructing the

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**Reasoning:** The tribunal reasoned that any creditor extending financial facilities can be concerned

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**Interpretation:** The tribunal interpreted that the actions of EARCL were within the scope of a

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**Application:** The tribunal applied this interpretation to the facts of the case and concluded

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Tecpro Systems…
- **Other parties:** EARC…; Edelweiss Asset…; +2 more
- **Advocates:** Arvind…; Mish…; +30 more

## Timeline

- **2017-08-07 — CIRP Commen…**: The Corporate Insolvency Resolution Process…
- **2020-01-16 — Liquidation Com…**: The liquidation process…

## 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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