# In the matter of B.D. Motors Limited IA (IB) No. 1074-KB-2021 in CP (IB) No. 188-KB-2019

> NCLT judgment dated 2022-01-06. Citation: TCN-2022-NCLT-04523. The case pertains to an application filed by the Resolution Professional (RP) seeking…

- **Court:** NCLT
- **Order date:** 6 Jan 2022
- **Citation:** TCN-2022-NCLT-04523
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bd-motors-limited-ia-ib-no-1074-kb-2021-in-cp-ib-no-188-kb-2019-13224a2d

## Summary

### Background

The case pertains to an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, B.D. Motors Limited, as the Corporate Insolvency Resolution Process (CIRP) period had expired without any resolution plan being received. The CIRP was initiated following a petition filed by Monotrone Leasing Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had directed the initiation of CIRP against the Corporate Debtor and appointed Mr. Bimal Kanti Choudhury as the Interim Resolution Professional (IRP).

## Facts

Monotrone Leasing Private Limited, a financial creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against B.D. Motors Limited, the corporate debtor. The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) and appointed Mr. Bimal Kanti Choudhury as the Interim Resolution Professional (IRP). Public announcement was made on 19.03.2020 in Financial Express and Ekdin newspapers, with a last date for claim submission of 30.03.2020, later extended to 06.06.2020 due to Covid-19 lockdown. The Committee of Creditors (CoC) was constituted and reconstituted, comprising four financial creditors. The first CoC meeting was held on 18.08.2020. Invitation for Expression of Interest (EOI) was published on 04.02.2021 in

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, B.D. Motors Limited, should be …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, mandates the Adjudicating

…

**Reasoning:** The court reasoned that the CIRP period had expired, and no resolution plan was received.

…

**Interpretation:** Section 33(1) is interpreted to mean that if the CIRP fails to produce a

…

**Application:** In this case, since the CIRP period expired without a resolution plan, and the

…

## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Respondents:** B. D. Motors…

## Timeline

- **2020-03-12 — Order for CIRP…**: The Adjudicating Authority ordered the initiation of the Corporate Insolvency Resolution…
- **2020-03-19 — Public Annou…**: Public announcement was made in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — 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/bd-motors-limited-ia-ib-no-1074-kb-2021-in-cp-ib-no-188-kb-2019-13224a2d