# In the matter of AVJ Infrastructure Private Limited

> NCLT judgment dated 2020-11-06. Citation: TCN-2020-NCLT-00283. The case pertains to an application filed by the Resolution Professional under Section 33 of…

- **Court:** NCLT
- **Order date:** 6 Nov 2020
- **Citation:** TCN-2020-NCLT-00283
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/avj-infrastructure-private-limited-0312f46b

## Summary

### Background

The case pertains to an application filed by the Resolution Professional under Section 33 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, M/s. AVJ Infrastructure Private Limited. The Corporate Debtor had previously filed a Company Petition under Section 7 of the Code, which was admitted by the Tribunal on 30.09.2019, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Brijender Singh Deswal was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted on 23.10.2018, and in subsequent meetings, the RP was appointed with 100% voting rights. The RP informed the CoC that the last date for submitting Expressions of Interest (EOI) had passed, and no EOIs

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## Facts

M/s AVJ Infrastructure Private Limited (Corporate Debtor) filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was admitted on 2019-09-30, initiating the Corporate Insolvency Resolution Process (CIRP). Brijender Singh Deswal was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted on 2018-10-23. The last date for submitting Expressions of Interest (EOI) was 2019-12-20, but no EOIs were received. The CoC dissented to extend the time limits of submission of EOI and decided with the 100% of the voting rights to reject all the EOIs submitted after the last date of expression of interest. The CoC decided to file a liquidation application before the Bench on 2020-03-23. The

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, M/s AVJ Infrastructure Private …

**Ratio:** Section 33 of the Insolvency and Bankruptcy Code, 2016, allows for the liquidation of a

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**Reasoning:** The court reasoned that the CIRP process had failed as no resolution plan was received,

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**Interpretation:** Section 33 provides a mechanism for liquidation when CIRP is unsuccessful. The

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**Application:** The court applied Section 33 to the facts of the case, noting the failure of

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## Parties

- **Judges:** SHRI. B.S.V…; SHRI. HEMANT…
- **Appellants:** Oriental Bank of…
- **Respondents:** M/s AVJ Infrastruc…
- **Advocates:** Prachi…; Usha S…

## Timeline

- **2018-10-23 — Constitution of…**: The Committee of…
- **2019-09-30 — Admission of Company…**: The Company Petition filed by the Corporate Debtor under Section 7 of the Code was…

## 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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