# In the matter of Claps Wikids Education Private Limited IA No 389-2019 in CP (IB) No. 409-7-HDB-2019

> NCLT judgment dated 2019-10-03. Citation: TCN-2019-NCLT-01105. The case involves an application filed by the Resolution Professional of M/s Claps Wikids…

- **Court:** NCLT
- **Order date:** 3 Oct 2019
- **Citation:** TCN-2019-NCLT-01105
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/claps-wikids-education-private-limited-ia-no-389-2019-in-cp-ib-no-409-7-hdb-2019-a6454dd6

## Summary

### Background

The case involves an application filed by the Resolution Professional of M/s Claps Wikids Education Private Limited under Section 33(1)(a) of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Claps Wikids Education Private Limited after a petition filed by Cyberabad Hitech Integrated Township Development Corporation Pvt Ltd, the Financial Creditor, was admitted on 03.12.2018 under Section 7 of the IBC. The Resolution Professional was appointed as Interim Resolution Professional and later confirmed. The Committee of Creditors (CoC) was formed, with the Financial Creditor being the sole member. The Resolution Professional conducted the 1st CoC meeting but could

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## Facts

M/s Claps Wikids Education Private Limited faced Corporate Insolvency Resolution Process (CIRP) initiated by Cyberabad Hitech Integrated Township Development Corporation Pvt Ltd, the Financial Creditor. The CIRP was triggered by a petition under Section 7 of the Insolvency & Bankruptcy Code, 2016, which was admitted on 03.12.2018. C.A. Kiran Palla was appointed as the Interim Resolution Professional and later confirmed as Resolution Professional. A Committee of Creditors (CoC) was formed, with the Financial Creditor as the sole member. The Corporate Debtor was running a Play School. The Corporate Debtor defaulted in filing annual returns, leading to its name being struck off from the register of RoC (Hyderabad). The CoC approved the liquidation of the company on

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## Issues and analysis

### Issue 1: Whether the Tribunal is obligated to pass a liquidation order when no resolution plan is received …

**Ratio:** Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 mandates that if no

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**Reasoning:** The Tribunal reasoned that the Resolution Professional did not file any Resolution Plan

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**Interpretation:** Section 33(1)(a) is interpreted strictly to mean that the absence of a

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**Application:** In this case, since no resolution plan was submitted within the CIRP period for

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## Parties

- **Judges:** Ratakonda…; Narender Kumar…; +1 more
- **Appellants:** Cyberabad Hi-tech…
- **Respondents:** Claps Wikids…; Claps Wiki…

## Timeline

- **2018-12-03 — Admission of…**: The Tribunal admitted the petition filed by Cyberabad Hitech Integrated Township…
- **2019-01-02 — CoC Meet…**: The Committee of Creditors (CoC) approved the liquidation of the Corporate Debtor in its…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

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