# In the matter of Adept Technology Private Limited IA-507-2021 in MA-54-2020 ,CP-1210-IB-2018 > NCLT judgment dated 2021-10-13. Citation: TCN-2021-NCLT-00744. The case involves MA/54/2020 and IA/507/2021, both related to CP/1210/IB/2018 concerning Adept… - **Court:** NCLT - **Order date:** 13 Oct 2021 - **Citation:** TCN-2021-NCLT-00744 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/adept-technology-private-limited-ia-507-2021-in-ma-54-2020-cp-1210-ib-2018-3ed9069f ## Summary ### Background The case involves MA/54/2020 and IA/507/2021, both related to CP/1210/IB/2018 concerning Adept Technology Private Limited. MA/54/2020 was filed by the Resolution Professional seeking directions against T. Sundaravel, the respondent, who is in possession of the corporate debtor's movable properties. IA/507/2021 was filed by T. Sundaravel to set aside an earlier order passed in MA/54/2020. The corporate debtor, Adept Technology Private Limited, is undergoing liquidation after the Committee of Creditors (CoC) resolved for early liquidation due to factors like the company being out of business, having no revenue or employees, and possessing virtually no assets. The respondent, T. Sundaravel, is the landlord of the corporate debtor's old office and has also filed a claim … ## Facts Adept Technology Private Limited is undergoing Corporate Insolvency Resolution Process (CIRP) and subsequently liquidation. The CIRP was initiated based on an application filed under CP/1210/IB/2018. The Committee of Creditors (CoC) resolved for early liquidation of the Corporate Debtor due to its poor financial condition. An order for liquidation was passed on 03.09.2019. Ashok Seshadri was appointed as the Liquidator. T. Sundaravel, the Respondent, is the landlord of the Corporate Debtor's old office and possesses movable assets of the Corporate Debtor. T. Sundaravel has also filed a claim for rent arrears amounting to Rs. 27,21,744/-. The Liquidator has been unable to take possession and value the movable assets in the Respondent's custody. The Respondent filed … ## Issues and analysis ### Issue 1: Whether IA/507/CHE/2021, filed by the Respondent to recall the order dated 11.03.2021, is … **Ratio:** The Tribunal does not have the power to … **Reasoning:** The Tribunal referred to a NCLAT judgement which stated that the power to review is not … **Interpretation:** The power of review is a statutory power and cannot be exercised unless … **Application:** Since the NCLT Rules do not provide for a review of its own orders, … ## Parties - **Judges:** R. Sucha…; Anil Ku… - **Appellants:** T. Sunda… - **Respondents:** Adept Technology… ## Timeline - **2018-01-01 — CP/1210/IB/20…**: The initial application under… - **2019-03-26 — CIRP Ord…**: The Tribunal ordered the commencement of… ## Legal provisions - [Insolvency and Bankruptcy Code, 2016, Section 33(2) — 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/adept-technology-private-limited-ia-507-2021-in-ma-54-2020-cp-1210-ib-2018-3ed9069f