# In the matter of Aadhaar Shri Infratech Private Limited IA-2579-2020 filed in CP-IB-179-ND-2019

> NCLT judgment dated 2020-08-07. Citation: TCN-2020-NCLT-00884. The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 7 Aug 2020
- **Citation:** TCN-2020-NCLT-00884
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aadhaar-shri-infratech-private-limited-ia-2579-2020-filed-in-cp-ib-179-nd-2019-910b6e49

## Summary

### Background

The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) for the initiation of liquidation of the Corporate Debtor, Aadhar Shri Infratech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC by an Operational Creditor. An Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP), Mr. Manohar Lal Vij. Despite efforts to find a resolution plan, no viable proposals were received, leading the Committee of Creditors (CoC) to decide on liquidation.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Aadhar Shri Infratech Private Limited following an application filed by an Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Prabhat Ranjan Singh was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Mr. Manohar Lal Vij as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, consisting of two financial creditors holding 100% voting rights. Despite efforts by the RP, including issuing Form G twice to invite Expression of Interest, no resolution plan was received. The CoC concluded that the Corporate Debtor had no significant operational assets and that liquidation was the most viable option.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Aadhar Shri Infratech Private …

**Ratio:** Section 33(2) of the IBC allows for the initiation of liquidation if no resolution plan

…

**Reasoning:** The Adjudicating Authority noted that no resolution plan was received despite the

…

**Interpretation:** Section 33(2) provides a clear pathway for liquidation when the CIRP fails to

…

**Application:** Given the absence of a resolution plan and the CoC's approval, the Adjudicating

…

## Parties

- **Judges:** Ch. Mohd Sharief…; Narender Kumar…
- **Appellants:** Manohar L…
- **Respondents:** Aadhar Shri…

## Timeline

- **2019-07-11 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP)…
- **2019-08-23 — CoC Form…**: Committee of Creditors…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/aadhaar-shri-infratech-private-limited-ia-2579-2020-filed-in-cp-ib-179-nd-2019-910b6e49