Case Details

Case Name: UNOX S.P.A vs. M/s Ambro Asia Private Limited

Court/Authority: National Company Law Tribunal, Court-VI, New Delhi Bench

Case/Order No.: IA (Liq.) 6/ND/2026 in CP IB NO. 722/ND/2021

Date: Order delivered on 21.05.2026

Period of Violation/Dispute: Corporate Insolvency Resolution Process (CIRP) initiated on 18.04.2024

Parties Involved

Petitioner/Operational Creditor: UNOX S.P.A

Respondent/Corporate Debtor: M/s Ambro Asia Private Limited

Applicant/Resolution Professional: Mr. Piyush Moona (IBBI Reg. No. IBBI/IPA001/IP-P00990/2017-18/11630)

Proposed Liquidator: Mr. Pradeep Kumar (IBBI Reg. No. IBBI/IPA-001/IP-P-02583/2021-22/13981)

Legal Counsel: Adv Gaurav Joshi (for Applicant/RP)

Issues / Allegations / Violations

The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 seeking liquidation of Ambro Asia Private Limited after the failure of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 18.04.2024 following a petition under Section 9 by operational creditor UNOX S.P.A.

Findings & Observations

The Tribunal observed that the Committee of Creditors (CoC), in exercise of its commercial wisdom under Section 33(2) of the Code, resolved with 87.13% voting share to liquidate the Corporate Debtor. The CoC noted that the liquidation value of the Corporate Debtor was higher than the value offered under the only Resolution Plan received, which was found non-compliant with Section 30(2)(b) of the Code.

Penalties / Settlements / Directions

The NCLT passed the following directions:

  • Ordered liquidation of M/s Ambro Asia Private Limited
  • Appointed Mr. Pradeep Kumar as Liquidator
  • The Moratorium under Section 14 ceases and fresh Moratorium under Section 33(5) commences
  • All powers of Board of Directors, key managerial persons, and partners cease and vest with the Liquidator
  • Personnel directed to extend all cooperation to the Liquidator
  • Liquidation order deemed notice of discharge to officers, employees and workmen
  • No suit or legal proceeding shall be instituted by or against Corporate Debtor except by Liquidator with prior approval
  • Liquidator to follow up pending applications and initiate recovery steps

Corrective Actions & Future Obligations

The Liquidator must:

  • Initiate liquidation process under Chapter-III of the Code and IBBI (Liquidation Process) Regulations, 2016
  • Submit Preliminary Report to Adjudicating Authority within seventy-five days from liquidation commencement date
  • Manage all affairs of the Corporate Debtor during liquidation process

Final Ruling & Enforcement

The application IA(Liq.)/6/ND/2026 was allowed and disposed of. Copy of order sent to Corporate Debtor, CoC members, Liquidator, IBBI and RoC, NCT of Delhi & Haryana for necessary steps. The liquidation process is to commence immediately under the supervision of the appointed Liquidator.