# UNOX S.P.A vs. M/S AMBRO ASIA PRIVATE LIMITED

> NCLT judgment dated 2026-05-21. Citation: TCN-2026-NCLT-00549. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Ambro Asia Private…

- **Court:** NCLT
- **Order date:** 21 May 2026
- **Citation:** TCN-2026-NCLT-00549
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/unox-spa-vs-ms-ambro-asia-private-limited-ja4bw

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Ambro Asia Private Limited (Corporate Debtor) based on an application filed by UNOX S.P.A (Operational Creditor). Mr. Piyush Moona was appointed as the Interim Resolution Professional (IRP) and subsequently the Resolution Professional (RP). Despite multiple publications of Form G and extensions for submitting resolution plans, only one non-compliant plan was received. This plan was ultimately rejected by the Committee of Creditors (CoC).

## Facts

IA (Liq.)/6/ND/2026 was filed by Mr. Piyush Moona, Resolution Professional of M/s Ambro Asia Private Limited, seeking liquidation of the Corporate Debtor under Section 33(2) of the IBC, 2016.

The application also sought the appointment of Mr. Pradeep Kumar as the Liquidator under Section 34 of the IBC, 2016.

Company Petition (IB) No. 722/ND/2021, filed by UNOX S.P.A (Operational Creditor), was admitted on 18.04.2024, initiating the Corporate Insolvency Resolution Process (CIRP) against M/s Ambro Asia Private Limited.

Mr. Piyush Moona (IBBI Reg. No. IBBI/IPA001/IP-P00990/2017-18/11630) was appointed as Interim Resolution Professional (IRP).

A public announcement in Form-A was made on 20.04.2024, with the last date for claims fixed as 02.05.2024.

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## Issues and analysis

### Issue 1: Whether M/s Ambro Asia Private Limited, the Corporate Debtor, should be liquidated under Section …

**Ratio:** The Adjudicating Authority is mandated to pass a liquidation order if the Committee of

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**Reasoning:** The CoC, in its commercial wisdom, rejected the only received resolution plan due to

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**Interpretation:** Section 33(2) of the IBC grants significant power to the CoC to decide on the

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**Application:** Given that the CoC's decision to liquidate M/s Ambro Asia Private Limited was

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Unox S.…; Piyush…
- **Respondents:** M/s. Ambro Asia…
- **Other parties:** Committee of…; Board of Di…; +1 more
- **Advocates:** Adv Gaurav…; Learned C…

## Timeline

- **2024-04-18 — CIRP Init…**: Company Petition (IB) No. 722/ND/2021 filed by UNOX S.P.A was admitted, initiating…
- **2024-04-20 — Public Annou…**: The IRP made a public announcement in Form-A in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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