# In the matter of Cogent Engineers Pvt. Ltd. IA 744-2021 IA 747-2021 In C.P.(IB)3861-MB-2018

> NCLT judgment dated 2021-04-15. Citation: TCN-2021-NCLT-02383. The case involves an application filed by the Resolution Professional (RP) under Section…

- **Court:** NCLT
- **Order date:** 15 Apr 2021
- **Citation:** TCN-2021-NCLT-02383
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/cogent-engineers-pvt-ltd-ia-744-2021-ia-747-2021-in-cpib3861-mb-2018-554e63fc

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Cogent Engineers Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced on 30/08/2019. An application for extension of the CIRP was pending. The revival of the company was not possible, and no Expression of Interest (EoI) had been received. The factory, land, and building were already sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 07/03/2020.

## Facts

The Corporate Insolvency Resolution Process (CIRP) against Cogent Engineers Pvt Ltd commenced on 2019-08-30. The Resolution Professional (RP) filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation. The CIRP period exceeded the maximum permitted 330 days under Section 12 of the IBC. No resolution or revival was possible. The factory, land, and building were sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 2020-03-07. An application for extension of the CIRP was pending. No Expression of Interest (EoI) was received. The RP, Kairav Trivedi, was present. The court found that keeping the matter pending would serve no purpose. The court ordered the liquidation of the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Cogent Engineers Pvt Ltd, should be liquidated under Section 33(1)(a) …

**Ratio:** Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 allows for the liquidation

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**Reasoning:** The court reasoned that the CIRP period had exceeded the maximum permitted 330 days under

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**Interpretation:** Section 33(1)(a) is interpreted to mean that if the CIRP period expires without

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**Application:** The ratio and reasoning were applied to the facts of the case, where the CIRP

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## Parties

- **Judges:** V. Nallasen…; Janab Mohammed…
- **Appellants:** Rushahs Engineerin…
- **Respondents:** Cogent Engineers…

## Timeline

- **2016-01-01 — Sale of Factory, Land &…**: The Factory, Land & Building of…
- **2019-08-30 — Commencement…**: The Corporate Insolvency Resolution Process…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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