# In the matter of Sunil Surrendrakumar Kakkad vs. Sujyot Infrastructure Pvt. Ltd. & Ors.

> NCLAT judgment dated 2024-11-14. Citation: TCN-2024-NCLAT-00094. The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 (IBC) by the…

- **Court:** NCLAT
- **Order date:** 14 Nov 2024
- **Citation:** TCN-2024-NCLAT-00094
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-surrendrakumar-kakkad-vs-sujyot-infrastructure-pvt-ltd-ors-98a8d279

## Summary

### Background

The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 (IBC) by the Appellant against the order dated 30.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench-I) in I.A. No. 558/AHM/2022 in C.P. (IB) No. 559 of 2019. The Adjudicating Authority had ordered the liquidation of the Corporate Debtor, Sujyot Infrastructure Private Limited, as approved by the Committee of Creditors (CoC). The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 22.12.2021. The CoC comprised of two members: State Bank of India and Bank of Baroda. The CoC disapproved the agenda for issuance of Form-G and decided to consider the agenda of liquidation of the Corporate Debtor. The CoC voted against

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## Facts

Sunil Surrendrakumar Kakkad, a shareholder and suspended director of Sujyot Infrastructure Pvt. Ltd., filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench-I) which ordered the liquidation of Sujyot Infrastructure Pvt. Ltd. The Corporate Debtor, Sujyot Infrastructure Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 22.12.2021. The Resolution Professional (RP) was appointed, and the Committee of Creditors (CoC) was formed, comprising State Bank of India and Bank of Baroda. The CoC, in its first meeting on 28.01.2022, disapproved the agenda for issuance of Form-G and decided to consider the agenda of liquidation. The CoC voted against extension of the CIRP period and also voted

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## Issues and analysis

### Issue 1: Whether the CoC with 100% vote share could have directly proceeded for liquidation of the Corporate …

**Ratio:** Section 33(2) of the IBC allows the CoC to decide to liquidate the Corporate Debtor at

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**Reasoning:** The Tribunal reasoned that the legislative intent behind Section 33(2) is to empower the

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**Interpretation:** Section 33(2) of the IBC provides the CoC with the flexibility to decide on

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**Application:** In this case, the Tribunal found that the CoC had considered the relevant

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Sunil Surrendrakum…
- **Respondents:** Sujyot Infrastruct…

## Timeline

- **2019-01-01 — CP (IB) No. 55…**: Mention of CP (IB) No. 559 of…
- **2021-12-22 — CIRP Commen…**: Sujyot Infrastructure Private Limited was admitted into Corporate Insolvency Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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