Pooja Finelease Ltd. Vs Auto Needs (India) Pvt. Ltd. (NCLT Delhi)
The National Company Law Tribunal (NCLT), New Delhi Bench, in Pooja Finelease Ltd. vs Auto Needs (India) Pvt. Ltd., considered an application (I.A./22/ND/2025) filed by Ms. Rashmi Mintri, Resolution Professional (RP) of Auto Needs (India) Pvt. Ltd. (“Corporate Debtor”), under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (“Code”), seeking liquidation of the Corporate Debtor.
Background and Proceedings
The Corporate Insolvency Resolution Process (CIRP) for the Corporate Debtor was originally initiated on 20 December 2019 based on a Section 7 application filed by Akasa Finance Ltd. (formerly Pooja Finelease Ltd.). The proceedings were withdrawn on 5 February 2020 after a settlement between the parties. However, due to the Corporate Debtor’s failure to honour the settlement, the CIRP was revived by the NCLAT.
Subsequently, by order dated 14 May 2024, the Tribunal appointed Ms. Rashmi Mintri as the Interim Resolution Professional (IRP), replacing Mr. Vinay Kumar Jaidrath, who had attained the age of 70 years and lacked a valid Authorisation for Assignment (AFA).
The RP issued a public announcement on 21 May 2024 inviting creditor claims under Section 15 of the Code. However, the suspended directors did not cooperate, failed to provide books of accounts, and were absent from Committee of Creditors (CoC) meetings. The company’s registered office was also found non-existent at the address recorded with the Ministry of Corporate Affairs (MCA).
