# In the matter of Anil Life Sciences Limited IA-575-2021 in CP (IB)-81-9-NCLT-AHM-2018

> NCLT judgment dated 2022-06-07. Citation: TCN-2022-NCLT-04682. The application was filed by Mr. Parthiv Parikh, Liquidator of M/s. Anil Life Sciences Limited,…

- **Court:** NCLT
- **Order date:** 7 Jun 2022
- **Citation:** TCN-2022-NCLT-04682
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/anil-life-sciences-limited-ia-575-2021-in-cp-ib-81-9-nclt-ahm-2018-f45937de

## Summary

### Background

The application was filed by Mr. Parthiv Parikh, Liquidator of M/s. Anil Life Sciences Limited, under Section 54 of the Insolvency and Bankruptcy Code, 2016, seeking an order for the dissolution of the Corporate Debtor.

## Facts

Mr. Parthiv Parikh, Liquidator of M/s. Anil Life Sciences Limited, filed an application for the dissolution of the Corporate Debtor under Section 54 of the IBC, 2016.

An Operational Creditor, Mr. Ritesh K.V.K Suchak, initiated CIRP against M/s. Anil Life Sciences Limited, which was admitted on 12.09.2018.

Mr. Parthiv Parikh was appointed as Interim Resolution Professional and later confirmed as Resolution Professional.

The CoC decided to close the CIRP process before 180 days due to the absence of key managerial personnel and the inoperative condition of the plant.

The CoC instructed the Resolution Professional to file an application for the initiation of liquidation of the corporate debtor.

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor, M/s. Anil Life Sciences Limited, …

**Ratio:** Section 54 of the Insolvency and Bankruptcy Code, 2016, provides for the dissolution of

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**Reasoning:** The liquidator has filed the application for dissolution after completing the necessary

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**Interpretation:** The Adjudicating Authority has the power to order the dissolution of the

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**Application:** The Adjudicating Authority, after considering the facts and circumstances of

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## Parties

- **Judges:** DEEPTI M…; Ajai Das Me…
- **Appellants:** Parthiv P…
- **Respondents:** Anil Life…; Cooperative…
- **Other parties:** Ritesh K.V.K…

## Timeline

- **2018-09-12 — CIRP Admi…**: CIRP initiated against M/s. Anil…
- **2018-10-30 — First CoC M…**: 1st meeting of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

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