# In the matter of Ablaze Info Solutions Private Limited IA-3934-ND-2020 in Company Petition No. (IB)-1028(ND)2018

> NCLT judgment dated 2021-01-18. Citation: TCN-2021-NCLT-03271. The case involves an application filed by Mr. Rajiv Bhatnagar, the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 18 Jan 2021
- **Citation:** TCN-2021-NCLT-03271
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ablaze-info-solutions-private-limited-ia-3934-nd-2020-in-company-petition-no-ib-ab18505b

## Summary

### Background

The case involves an application filed by Mr. Rajiv Bhatnagar, the Resolution Professional (RP) of M/s Ablaze Info Solutions Private Limited, under Section 33(1)(a), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Operational Creditor, M/s ESSPEE Hitech Pvt. Ltd., had initiated the Corporate Insolvency Resolution Process (CIRP) against M/s Ablaze Info Solutions Pvt Ltd. The application was admitted on 2018-11-30, and Mr. Subramanian Dorairanjan was appointed as the Interim Resolution Professional (IRP). Later, Mr. Rajiv Bhatnagar was appointed as RP after Mr. Dorairanjan expressed his unwillingness to continue. The RP discovered that the Corporate Debtor's operations were suspended since February 2017 due

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## Facts

M/s ESSPEE Hitech Pvt. Ltd., the Operational Creditor, initiated CIRP against M/s Ablaze Info Solutions Private Limited by filing an application under Section 9 of the IBC, 2016. The application was admitted on 2018-11-30. Mr. Subramanian Dorairanjan was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement as per Regulation 6(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. In the first meeting of the CoC held on 2019-01-03, Mr. Rajiv Bhatnagar was appointed as Resolution Professional (RP) after Mr. Dorairanjan expressed his unwillingness to continue. The last date for filing claims was 2018-12-18, and the IRP received over 28,386 claims. The RP discovered

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor should be allowed under Section …

**Ratio:** Section 33(2) of the IBC, 2016, allows the Adjudicating Authority to order the

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**Reasoning:** The CoC, in its 4th meeting, resolved to move an application for liquidation under

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**Interpretation:** Section 33(2) provides a mechanism for liquidation when the CIRP is not viable

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**Application:** In this case, the Corporate Debtor's assets and records were confiscated by the

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## Parties

- **Judges:** Sh. Abni Ranjan…; SH. L. N.…
- **Appellants:** M/s ESSPEE Hitech…
- **Respondents:** M/s Ablaze Info…; Anubhav M…

## Timeline

- **2018-11-30 — Admission of Ap…**: The application for initiating CIRP against M/s Ablaze Info Solutions Pvt Ltd. was…
- **2018-11-30 — Appointment…**: Mr. Subramanian Dorairanjan was appointed as…

## 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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