# In the matter of Anandram Developers Pvt. Ltd. MA-463-2019 in CP-603-IB-2017

> NCLT judgment dated 2020-02-11. Citation: TCN-2020-NCLT-01999. The case pertains to the appointment of a liquidator for Anandram Developers Pvt Ltd, the…

- **Court:** NCLT
- **Order date:** 11 Feb 2020
- **Citation:** TCN-2020-NCLT-01999
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anandram-developers-pvt-ltd-ma-463-2019-in-cp-603-ib-2017-de951b54

## Summary

### Background

The case pertains to the appointment of a liquidator for Anandram Developers Pvt Ltd, the Corporate Debtor, following a reference from IBBI. The Tribunal, in compliance with its order dated 31.12.2019, considered IBBI's recommendation and appointed Ms. Santhanam Rajashree as the Liquidator.

## Facts

The Insolvency and Bankruptcy Board of India (IBBI) recommended Ms. Santhanam Rajashree as a suitable Resolution Professional (RP) to act as Liquidator for Anandram Developers Pvt Ltd, the Corporate Debtor. The National Company Law Tribunal (NCLT) Chennai Bench, in compliance with its order dated 31.12.2019, appointed Ms. Santhanam Rajashree as the Liquidator. The Liquidator is directed to act in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), and related rules and regulations. The Liquidator must issue a public announcement that the Corporate Debtor is in liquidation and investigate the financial affairs of the Corporate Debtor, particularly regarding preferential and undervalued transactions. The order also directs the Registry to

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## Issues and analysis

### Issue 1: Whether Ms. Santhanam Rajashree should be appointed as the Liquidator for the Corporate Debtor, …

**Ratio:** The Tribunal has the authority to appoint a liquidator based on the recommendation of the

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**Reasoning:** The Tribunal considered the IBBI's recommendation and found Ms. Santhanam Rajashree

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**Interpretation:** The IBC provides a framework for the appointment of liquidators to manage the

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**Application:** Based on the IBBI's recommendation, Ms. Santhanam Rajashree was appointed as

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## Parties

- **Judges:** SHRIR VARAD…; SHRI. ANIL…
- **Respondents:** Anandram Developer…; GOPAL KRISHNA…

## Timeline

- **2019-12-31 — Tribunal…**: The Tribunal passed an order, based on…
- **2020-01-13 — IBBI Commun…**: IBBI communicated its recommendation of…

## Legal provisions

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

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