# In the matter of Achuthan Thazhathehil & Ors. Vs. CS Satyadevi Alamuri, RP of GB Engineering Enterprises Pvt. Ltd. & Ors. CA (AT) No. 579-2018

> NCLAT judgment dated 2018-09-25. Citation: TCN-2018-NCLAT-00104. The appeal was preferred by Achuthan Thazhathehil, the promoter of M/s GB Engineering…

- **Court:** NCLAT
- **Order date:** 25 Sept 2018
- **Citation:** TCN-2018-NCLAT-00104
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/achuthan-thazhathehil-ors-vs-cs-satyadevi-alamuri-rp-of-gb-engineering-enterpris-e5c9d575

## Summary

### Background

The appeal was preferred by Achuthan Thazhathehil, the promoter of M/s GB Engineering Enterprises Pvt. Ltd. (Corporate Debtor), against an order dated August 6, 2018, by the Adjudicating Authority (National Company Law Tribunal), Single Bench Chennai. The Adjudicating Authority had entertained an application filed by the Resolution Professional under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, and ordered for the liquidation of the Company.

## Facts

Achuthan Thazhathehil, promoter of M/s GB Engineering Enterprises Pvt. Ltd. (Corporate Debtor), filed an appeal against the Adjudicating Authority's order for liquidation. The Adjudicating Authority (NCLT Chennai) had entertained an application by the Resolution Professional under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor had applied under Section 10 of I&B Code, citing financial strain due to recession and failed loan restructuring. There were discussions with M/s Andritz Oy for a potential merger. The appellant argued that these factors were not considered by the Adjudicating Authority or the Resolution Professional. The appellate tribunal noted that no resolution plan was submitted despite the publication of an

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in ordering the liquidation of the Corporate …

**Ratio:** Section 33(1)(a) of the I&B Code allows the Adjudicating Authority to order

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**Reasoning:** The appellate tribunal noted that no resolution plan was submitted by any party,

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**Interpretation:** Section 33(1)(a) mandates liquidation when no resolution plan is forthcoming,

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**Application:** Since no resolution plan was submitted, the Adjudicating Authority's decision

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** ACHUTHAN THAZHATHE…
- **Respondents:** M/s. G.B.…; CS SATYADEVI…
- **Advocates:** D. Srini…; G. Ananda…; +1 more

## Timeline

- **2018-08-06 — Adjudicating Authority…**: The Adjudicating Authority (National Company Law Tribunal), Single Bench Chennai, ordered…
- **2018-09-25 — Appeal F…**: Achuthan Thazhathehil, Promoter of M/s GB Engineering Enterprises Pvt. Ltd., filed an…

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