1 week ago
Mumbai NCLT Orders Liquidation After No Resolution Plan Emerges
A tribunal in Mumbai ordered a company called European Projects & Aviation Limited to be liquidated.
Liquidation means the company will be closed and its remaining assets handled under insolvency rules.
The company had stopped operating.
It reportedly had no employees, fixed assets or patents.
It had also received no business income since 2012.
The company’s insolvency process started on March 27, 2025.
No buyer or other applicant submitted a plan to rescue the company before the process ended.
The creditors unanimously supported liquidation on September 9, 2025, and the tribunal found that the company could no longer continue as a working business.
The Mumbai bench of the National Company Law Tribunal ordered liquidation of European Projects & Aviation Limited.
The company had reportedly ceased operations and had no employees, staff, fixed assets or patents.
It had generated no business revenue or income since financial year 2012.
The insolvency process began on March 27, 2025, and expired on September 23, 2025, without a resolution plan.
The Committee of Creditors unanimously approved liquidation with 100% voting share on September 9, 2025.
- Who
- The Mumbai bench of the National Company Law Tribunal, European Projects & Aviation Limited, and its Committee of Creditors.
- What
- The tribunal ordered liquidation after the company attracted no viable resolution plan during its corporate insolvency resolution process.
- Where
- Mumbai, India.
- When
- The liquidation order was reported on September 15, 2026; the insolvency process expired on September 23, 2025, after a liquidation vote on September 9, 2025.
- Why
- The company had ceased operations, had no employees or fixed assets, had reported no business income since financial year 2012, and received no interest from prospective resolution applicants.
Key facts
- Company
- European Projects & Aviation Limited
- Tribunal
- Mumbai bench of the National Company Law Tribunal
- CIRP commencement
- March 27, 2025
- CIRP expiry
- September 23, 2025
- Liquidation vote
- Approved unanimously with 100% voting share on September 9, 2025
- Resolution plans
- No resolution plan was submitted to the tribunal
- Operations
- The company had ceased operations and had no employees, staff, fixed assets or patents
Quotes
Mumbai National Company Law Tribunal
The tribunal issuing the liquidation order
“Under the circumstances this Adjudicating Authority is of the considered view that the Corporate Debtor is liable to be liquidated under Section 33(2) of the Code, and accordingly, liquidation proceedings deserve to be initiated in accordance with Chapter III of the Code”
freepressjournal.in
Sources
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