NCLT New Delhi Orders Liquidation Of Dalmia Life Care After CoC Gets 72.19% Vote

The New Delhi Bench of the National Company Law Tribunal (NCLT) on 19 August ordered the liquidation of Dalmia Life Care Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, following a resolution passed by its Committee of Creditors (CoC) with 72.19% voting share.

A Bench comprising Judicial Member Justice Jyotsna Singh and Technical Member Anu Jagmohan Singh observed:

“In view of the provision of the Section 33(2) of IBC 2016 as stated above and the resolution passed by Coc with 72.19% vote in the 9th Meeting held on 17.10.2025 to liquidate the Corporate Debtor, we hereby order the liquidation of the Corporate Debtor M/s. Dalmia Life Care Private Limited.”

The application was filed by Rabindra Kumar Mintri, Resolution Professional of Dalmia Life Care. The Corporate Insolvency Resolution Process (CIRP) against the company commenced on 12 September 2024, with Rakesh Kumar appointed as the Interim Resolution Professional (IRP). A public announcement inviting claims was issued on 19 September 2024.

In December 2024, the CoC resolved to replace Kumar with Mintri, whose appointment was confirmed by the Tribunal in January 2025. The CIRP period was subsequently extended multiple times, and Form G inviting Expressions of Interest (EOIs) was published in July 2025.

Real Value Infotech Projects Pvt. Ltd. and Piyush Jain initially expressed interest as prospective resolution applicants. Real Value withdrew in August 2025, while Jain sought repeated extensions to submit a resolution plan. Despite being granted additional time until October 2025, Jain did not submit a compliant plan.

Jain subsequently proposed a settlement of Rs. 15 lakh, including CIRP costs, but the CoC rejected it as commercially unviable. At its 9th meeting on 17 October 2025, the CoC concluded that adequate opportunities had been provided and resolved, with 72.19% voting share, to initiate liquidation proceedings.

In June 2026, the CoC approved liquidation costs of Rs. 1.5 lakh and fixed the professional fee of the proposed liquidator at Rs. 1 lakh. Mintri filed an additional affidavit confirming these approvals.

The Tribunal noted that Section 33(2) of the IBC requires liquidation where the CoC, with at least 66% voting share, resolves to liquidate the corporate debtor. Since the CoC's resolution secured 72.19% voting share, the statutory threshold was satisfied.

Accordingly, the NCLT ordered liquidation of Dalmia Life Care and appointed Prabhat Ranjan Singh as liquidator under Section 34(1) of the IBC.

For Applicants: Advocates Harish Taneja and Aakash Bhatt