# In the matter of Aarohi Motors Pvt. Ltd. IA 75-2020 in  IA 90-2018 in C.P. (I.B) No. 117-NCLT-AHM-2017

> NCLT judgment dated 2020-07-01. Citation: TCN-2020-NCLT-01088. The case involves an application (IA 75 of 2020) filed by the liquidator, Dipak Janambhai…

- **Court:** NCLT
- **Order date:** 1 Jul 2020
- **Citation:** TCN-2020-NCLT-01088
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aarohi-motors-pvt-ltd-ia-75-2020-in-ia-90-2018-in-cp-ib-no-117-nclt-ahm-2017-d2d3fa72

## Summary

### Background

The case involves an application (IA 75 of 2020) filed by the liquidator, Dipak Janambhai Rachchha, of Aarohi Motors Private Limited, the Corporate Debtor, under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45 of the IBBI (Liquidation Process) Regulations 2016. The Corporate Debtor had previously filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Resolution Process, which was admitted by the Adjudicating Authority on 2017-09-21. The Committee of Creditors (CoC) unanimously resolved for the liquidation of the Corporate Debtor on 2018-02-26. The Adjudicating Authority directed the Corporate Debtor to be liquidated on 2018-03-19 and appointed the Applicant as the Liquidator.

## Facts

Aarohi Motors Private Limited (Corporate Debtor) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of the resolution process. The Adjudicating Authority admitted the application on 2017-09-21. The Committee of Creditors (CoC) unanimously resolved for the liquidation of the Corporate Debtor on 2018-02-26. Dipak Janambhai Rachchha was appointed as the Interim Resolution Professional and later as the Liquidator. The Adjudicating Authority directed the Corporate Debtor to be liquidated on 2018-03-19. The Liquidator made public announcements inviting claims from stakeholders. The Liquidator prepared a final report in compliance with Regulation 45 of the IBBI (Liquidation Process) Regulations 2016. The Liquidator filed an

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor, Aarohi Motors Private Limited, …

**Ratio:** Section 54(2) of the Insolvency and Bankruptcy Code, 2016, confers powers on the

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**Reasoning:** The Adjudicating Authority considered the details provided in the application, the

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**Interpretation:** Section 54(2) allows the Adjudicating Authority to dissolve a Corporate Debtor

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**Application:** The Adjudicating Authority, exercising powers under Section 54(2) of the Code,

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Dipak Janambhai…
- **Respondents:** Aarohi Motors…

## Timeline

- **2017-09-21 — Admission of Ap…**: The Adjudicating Authority admitted the application filed by the Corporate Debtor under…
- **2018-02-26 — CoC Resolution for…**: The Committee of Creditors (CoC) unanimously resolved for the liquidation of the…

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