# In the matter of A M. Vinyl Pvt. Ltd. IB-1005-ND-2018

> NCLT judgment dated 2020-07-06. Citation: TCN-2020-NCLT-01066. The case pertains to the matter of M/s. Swastik Interchem Pvt. Ltd. as the petitioner against…

- **Court:** NCLT
- **Order date:** 6 Jul 2020
- **Citation:** TCN-2020-NCLT-01066
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/a-m-vinyl-pvt-ltd-ib-1005-nd-2018-4026f359

## Summary

### Background

The case pertains to the matter of M/s. Swastik Interchem Pvt. Ltd. as the petitioner against M/s. A.M. Vinyl Pvt. Ltd. as the respondent under Section 9 of the IBC. The application, IA No. 2404 of 2020, for urgent hearing was allowed. The CoC has approved the liquidation of the Corporate-debtor.

## Facts

M/s. Swastik Interchem Pvt. Ltd. filed a petition against M/s. A.M. Vinyl Pvt. Ltd. under Section 9 of the IBC. An application, IA No. 2404 of 2020, was filed for an urgent hearing, which was allowed. The CoC approved the liquidation of the Corporate-debtor, M/s. A.M. Vinyl Pvt. Ltd. The Learned Counsel for the Suspended Board of Directors submitted that they had received the copy of the application and had no objection. The court then passed an order for the liquidation of the Corporate-debtor under Section 33(2) of the IBC, 2016. Mr. Anup Kumar was appointed as the Liquidator.

## Issues and analysis

### Issue 1: Whether the application for …

**Ratio:** The court has the discretion to allow applications for urgent hearings based on the

…

**Reasoning:** The Learned Counsel for the Suspended Board of Directors was present and submitted that

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**Interpretation:** The court interpreted the

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**Application:** The court applied its discretion to allow the application for urgent hearing,

…

## Parties

- **Judges:** SHRI. P.S.N.…; SHRI, NARENDER…
- **Appellants:** M/s. Swastik…
- **Respondents:** M/s. A.M. Vinyl…

## Timeline

- **2020-07-06 — Order Del…**: Order delivered on…
- **2020-10-14 — Matter Adj…**: Matter is adjourned to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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