SFIO Seeks MRPN Chits Winding Up for Fraud

Case Details

Case Name: Union of India Ministry of Corporate Affairs through SFIO vs M/S MRPN Chits Private Limited

Court/Authority: National Company Law Tribunal Kochi Bench

Case Number: CP(C/ACT)/22/KOB/2026

Date: 25 May 2026

Presiding Officer: Shri Vinay Goel, Hon'ble Member (Judicial)

Legal Provisions: Section 272(1)(e) read with Section 271(1)(c), (d) & (e) of Companies Act, 2013 read with Rule 11 NCLT

Parties Involved

Petitioner: Union of India Ministry of Corporate Affairs through Serious Fraud Investigation Office (SFIO)

Respondent: M/S MRPN Chits Private Limited (CIN No. U67190KL2018PTC052995)

Petitioner's Advocate: Mr. Renjith R

Respondent's Advocate: Not represented in this hearing

Issues / Allegations / Violations

The Petition alleges that the Respondent Company was incorporated for unlawful purposes and that its affairs have been conducted in a fraudulent manner prejudicial to public interest. The company has failed to file its financial statements and annual returns for five consecutive financial years. The investigation report dated 27.02.2025 necessitated the filing of the present winding-up petition.

Interim Reliefs Sought

The Petitioner sought the following interim reliefs:

• Restrain the Respondent Company from mortgaging, creating charge/lien/third party interest, or alienating any movable or immovable properties
• Direct attachment of all company properties
• Appoint Official Liquidator as provisional liquidator
• Direct Provisional Liquidator to take charge of company affairs

Tribunal's Interim Order

The Tribunal granted limited interim protection:

• Restrained the Respondent Company from creating any third-party interest or transferring, alienating, encumbering, or mortgaging any movable and immovable assets without prior Tribunal permission
• Denied the appointment of a Provisional Liquidator at this stage, citing the need to afford hearing opportunity to the Respondent
• Made clear that observations are prima facie and shall not affect case merits

Supporting Documents

The Petitioner annexed the following documents:

• Order No. F.No.35/13/2025-Legal dated 24.09.2025
• Letter of Authority dated 29.04.2026
• Investigation Report dated 27.02.2025
• Certificate of Incorporation of the Company
• Articles of Association of the Respondent Company

Next Steps & Directions

The Petitioner is directed to serve copies of the Order, Petition notice, and all annexures to the Respondent through registered post and all available modes within 24 hours. Failure will result in costs of Rs. 5,000/- payable to the National Defence Fund. The Registry is directed to issue notice to the Respondent forthwith. The case is adjourned to 05.06.2026 for further hearing.

Final Reliefs Sought (Pending Adjudication)

The Petitioner seeks final reliefs including:

• Winding up of the Respondent Company under Companies Act, 2013
• Appointment of Official Liquidator as Liquidator
• Direction to Official Liquidator to take possession of company assets and properties
• Award of costs in favor of Petitioner
• Any other orders deemed fit by the Tribunal