Intelligence note
Admitted 20 Jul 2022 by the Mumbai bench on a petition by Bank of India (a financial creditor). Liquidation ordered 29 Jul 2024, 740 days after admission (concluded-case median: 480 days). Admitted claims ₹28,452.15 Cr.
Admitted on Bank of India's petition over a default of ₹856.10 Cr. On 23 Apr 2024 the NCLAT took a landlord's property out of the CIRP, reversing the NCLT's order of 05 Oct 2023.
Admitted on Bank of India's petition over a default of ₹856.10 Cr. On 23 Apr 2024 the NCLAT took a landlord's property out of the CIRP, reversing the NCLT's order of 05 Oct 2023.
Claims at a glance
FC 73%
OC 27%
Total admitted ₹32,284.31 Cr · as on 30 Sep 2024
Case details
CIN
L51909MH2007PLC268269
Incorporated
2007
Registered State
Maharashtra
NCLT Bench
Mumbai
Petition
CP(IB) No. 527(MB)-2022
Initiated by
FC — Bank of India
Commencement
20 Jul 2022
Liquidation Order
29 Jul 2024
Admitted Claims
₹28,452.15 Cr
NCLT Mumbai: median 550 days admission → verdict · 34% of concluded matters ended in plan approval (n=1,269, full record) · all benches →
The liquidation order
No resolution plan approved within the process — order under Section 33(1)
No Resolution Plan secured CoC approval before CIRP expired on 30 Sep 2023; the CoC decided to liquidate on 26 Oct 2023.
Liquidator
Sanjay Gupta IBBI/IPA-002/IP-N00982-C01/2017-2018/10354
◆ not the RP
◆ not the RP
Petition
Bank of India (Described in the Cause Title As 'Financial Creditor') · admitted 20 Jul 2022
Bench & coram
National Company Law Tribunal, Mumbai Bench, Court - II
Anil Raj Chellan, Member (Technical) · Kuldip Kumar Kareer, Member (Judicial)
Anil Raj Chellan, Member (Technical) · Kuldip Kumar Kareer, Member (Judicial)
Going concern
The Liquidator shall endeavour to sell the company as a going concern under Regulation 32A clause (e).
Time in the process
The Tribunal allowed a further 15-day exclusion on 15 Sep 2023, extending the last CIRP date to 30 Sep 2023.
Market test
2 (Form G dated 4 Oct 2022 published in Financial Express and Jansatta, EOI due 20 Oct 2022, extended to 3 Nov 2022 by the 4th CoC - 13 EOIs received; fresh Form-G published 23 Mar 2023, EOI due 7 Apr 2023 - 49 EoIs received)
Resolution plans that did not survive · 3
Applicant not named · rejected by CoC
Six plans came in after the second Form G round; the CoC took forward only the one offering a going-concern resolution (the rest bid for assets). It failed to win the required vote, and on 26 Oct 2023 the CoC decided to liquidate. No bidder name, value or vote share is given.
Applicant not named · withdrawn
Of six plans received, two applicants withdrew their interest. The order names neither.
Applicant not named · lapsed
One applicant did not submit a financial proposal and so was not considered by the CoC. It is unnamed.
What the bench heldThe Tribunal held liquidation mandatory under Section 33(1), as the maximum CIRP period expired and no Resolution Plan was approved by the CoC.
Key dates in the order · 24
20 Jul 2022 — CP (IB) 527(MB)/2022 admitted; CIRP began; Vijaykumar V. Iyer appointed IRP
23 Jul 2022 — Form A public announcement; claims invited by 3 Aug 2022
18 Aug 2022 — 1st CoC confirmed IRP as RP
4 Oct 2022 — Form G published in Financial Express and Jansatta; EoIs due 20 Oct 2022
20 Oct 2022 — 4th CoC extended EoI date to 3 Nov 2022
10 Nov 2022 — Provisional PRA list issued; 13 EoIs received
15 Nov 2022 — RFRP published; plans due 15 Dec 2022
2 Dec 2022 — Bench confirmed the RP's appointment
6 Dec 2022 — 6th CoC decided to seek a 90-day CIRP extension
13 Jan 2023 — Bench granted 90-day extension to 16 Apr 2023; plan date moved to 6 Feb 2023, then 20 Feb 2023
20 Feb 2023 — PRAs submitted no resolution plan
21 Feb 2023 — 10th CoC decided on a fresh Form G
24 Feb 2023 — 11th CoC (reconvened 3 Mar 2023) decided on a fresh Form G
23 Mar 2023 — Fresh Form G published; EoIs due 7 Apr 2023; 49 EoIs received
13 Apr 2023 — Bench allowed exclusion; CIRP extended to 15 Jul 2023
14 Apr 2023 — RFRP published inviting plans by 15 May 2023; 6 plans received
13 Jul 2023 — 20th CoC decided to consider only the one going-concern plan
17 Jul 2023 — Bench allowed exclusion; CIRP extended to 17 Aug 2023
7 Sep 2023 — Bench excluded 27 days (29 sought); CIRP extended to 15 Sep 2023
15 Sep 2023 — Bench allowed 15-day exclusion; CIRP extended to 30 Sep 2023
26 Oct 2023 — CoC decided to liquidate; Agenda 3 voted 64.11% and Agenda 4 voted 51.92%
9 Nov 2023 — Joint lenders meeting (lenders with 77.37% voting share) unanimously recommended Sanjay Gupta as liquidator
13 Dec 2023 — Proposed liquidator's written consent placed on record by affidavit
29 Jul 2024 — IA 5293/2023 allowed; liquidation ordered; Sanjay Gupta appointed liquidator under Section 34
E-auction record
⏰ Upcoming e-auction · 23 Oct 2026 (in 2 days)
Reserve ₹2.20 Cr · EMD closes 21 Oct 2026 (0 days left) · auction notice PDF
PPE, FURNITURE AND FIXTURES · MAHARASHTRA
Reserves between ₹0.18 L and ₹2.20 Cr across the notices below.
AUCTION DATE
RESERVE · NOTICE · EMD
27 Oct 2026UPCOMING
Reserve ₹0.45 L · Issue of Auction Notice · Honda Civic – 1.8L i-VTEC VMT (Petrol), Reg. No. HR26BD8223 · DELHI NCR · noticed 1 Oct 2026 · EMD closes 24 Oct 2026 · notice PDF
27 Oct 2026UPCOMING
Reserve ₹0.18 L · Issue of Auction Notice · Imitation jewellery – gold-plated imitation jewellery studded with synthetic stones · DELHI · noticed 1 Oct 2026 · EMD closes 24 Oct 2026 · notice PDF
27 Oct 2026UPCOMING
Reserve ₹0.78 L · Issue of Auction Notice · Electronics · Delhi · noticed 1 Oct 2026 · EMD closes 24 Oct 2026 · notice PDF
27 Oct 2026UPCOMING
Reserve ₹1.58 Cr · Issue of Auction Notice · Stock of loose jewellery – 14KT, 18KT and 22KT jewellery, gold coins and silver coins · Delhi · noticed 1 Oct 2026 · EMD closes 24 Oct 2026 · notice PDF
23 Oct 2026UPCOMING
Reserve ₹2.20 Cr · Issue of Auction Notice · PPE, FURNITURE AND FIXTURES · MAHARASHTRA · noticed 15 Oct 2026 · EMD closes 21 Oct 2026 · notice PDF
13 May 2026
Reserve ₹15.31 L · Issue of Auction Notice · Inventory- Clothes, Accessories, Footwear & Miscellaneous (except PPE) in scrap or damaged condition · New Delhi · noticed 22 Apr 2026 · EMD closed 11 May 2026 · notice PDF
13 May 2026
Reserve ₹0.50 L · Issue of Auction Notice · Honda Civic 1.8 VTEC petrol car, reg. no. HR26BD8223 · New Delhi · noticed 22 Apr 2026 · EMD closed 11 May 2026 · notice PDF
26 Mar 2026
Reserve ₹17.01 L · Issue of Auction Notice · Inventory- Clothes, Accessories, Footwear & Miscellaneous (except PPE) in scrap or damaged condition · DELHI · noticed 11 Mar 2026 · EMD closed 23 Mar 2026 · notice PDF
Recent movement
29 Jul 2024
Liquidation order passed
No resolution plan approved — assets liquidated
EoI / Form-G detail
Dates as captured from IBBI on 30 Aug 2026
Case timeline
20 Jul 2022
CIRP commenced
Insolvency proceedings began · NCLT Mumbai
7 Apr 2023
EoI deadline
RP: Vijay Kumar V Iyer
29 Jul 2024
Liquidation order passed
No resolution plan approved — assets liquidated
Company
Type
Public · Company limited by shares
Listing
Listed
Incorporated
7 Feb 2007
Authorised capital
₹2,500.00 Cr
Paid-up capital
₹108.46 Cr
Industry (MCA)
Trading
ROC
ROC Mumbai
Company status
Under CIRP
Registered address
2nd Floor, Future Group Office, SOBO Brand Factory Pt. Madan Mohan Malviya Marg, Cross Road, HaiTardeo, Mumbai, Mumbai City, Maharashtra, 400034, India
Claims filing history
Operational creditors ↓
2 ↓
3 ↓
4 ↓
Other stakeholders ↓
Secured financial creditors ↓
Unsecured financial creditors ↓
Latest claims position · version 17, as on 30 Sep 2024, filed by Sanjay Gupta
| Creditor class (as IBBI lists it) | Claims | Claimed | Admitted | Admitted % |
|---|---|---|---|---|
| Secured financial creditors | 23 | ₹17,960.69 Cr | ₹17,400.15 Cr | 97% |
| Unsecured financial creditors | 23 | ₹6,155.67 Cr | ₹6,155.30 Cr | 99.9% |
| Operational creditors (Employees) | 29 | ₹129.17 Cr | ₹114.41 Cr | 89% |
| Operational creditors (Government Dues) | 72 | ₹643.89 Cr | ₹200.39 Cr | 31% |
| Operational creditors (other than Workmen, Employees and Government Dues) | 3119 | ₹8,852.91 Cr | ₹8,414.06 Cr | 95% |
| Total | 3266 | ₹33,742.33 Cr | ₹32,284.31 Cr | 96% |
Of ₹33,742.33 Cr claimed, ₹32,284.31 Cr stands admitted — 96 paise per ₹1 claimed. Classes with no claims are not shown.
Source: IBBI claims summary for this version · IBBI PDF ↓. Claims are revised as the process runs; this page shows the latest version only.
v17 · latest
as on 30 Sep 2024 · filed by Sanjay Gupta
v16
as on 14 Jun 2024 · filed by Vijay Kumar V Iyer
v15
as on 15 Mar 2024 · filed by Vijay Kumar V Iyer
v14
as on 31 Dec 2023 · filed by Vijay Kumar V Iyer
v13
as on 31 Oct 2023 · filed by Vijay Kumar V Iyer
Show all 17 versions
v12
as on 30 Sep 2023 · filed by Vijay Kumar V Iyer
v11
as on 24 Aug 2023 · filed by Vijay Kumar V Iyer
v10
as on 6 Jul 2023 · filed by Vijay Kumar V Iyer
v9
as on 19 Jun 2023 · filed by Vijay Kumar V Iyer
v8
as on 12 May 2023 · filed by Vijay Kumar V Iyer
v7
as on 15 Mar 2023 · filed by Vijay Kumar V Iyer
v6
as on 16 Feb 2023 · filed by Vijay Kumar V Iyer
v5
as on 24 Jan 2023 · filed by Vijay Kumar V Iyer
v4
as on 3 Jan 2023 · filed by Vijay Kumar V Iyer
v3
as on 30 Nov 2022 · filed by Vijay Kumar V Iyer
v2
as on 27 Sep 2022 · filed by Vijay Kumar V Iyer
v1
as on 2 Sep 2022 · filed by Vijay Kumar V Iyer
Sources, basis and disclaimers → ·
report an error
This case vs Trading & Distribution
Time to liquidation order740 days
typical for this sector 393 days
Size rank in sector#1 of 443
Key parties
IRP at commencement
VijayKumar V Iyer → · Jul 2022
Per IBBI's register of insolvency professionals, read 5 Oct 2026
CIRP initiated by
Bank of India FC
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