# In the matter of Compact Lamps Pvt. Ltd. (IB)-1372(PB)-2018

> NCLT judgment dated 2019-10-31. Citation: TCN-2019-NCLT-00762. The case involves M/s. Captain Offset Printers V/s. M/s. Compacts Lamps Pvt. Ltd. before the…

- **Court:** NCLT
- **Order date:** 31 Oct 2019
- **Citation:** TCN-2019-NCLT-00762
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/compact-lamps-pvt-ltd-ib-1372pb-2018-9a9f4f68

## Summary

### Background

The case involves M/s. Captain Offset Printers V/s. M/s. Compacts Lamps Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. The matter pertains to Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor's counsel prepared details of sundry debtors, but it was only partial compliance. The Resolution Professional (RP) sought disposal of CA-1373/19 under Section 33(1)(A) of the Code. No resolution plan was received, and an expression of interest was withdrawn. The Corporate Insolvency Resolution (CIR) period expired, leading to consideration of liquidation.

## Facts

M/s. Captain Offset Printers initiated a case against M/s. Compacts Lamps Pvt. Ltd. under Section 9 of the IBC, 2016. The Corporate Debtor's counsel provided details of sundry debtors, but it was deemed only partial compliance. The Resolution Professional (RP) filed CA-1373/19 seeking disposal under Section 33(1)(A) of the Code. No resolution plan was received; only an expression of interest had been submitted and subsequently withdrawn. The CIR period had expired. There was no reconciliation of accounts with EESL. Ms. Deepika Prasad Bhugra was the RP. Mr. Vikas Sharma appeared as the Statutory Auditor/R-4. The CoC approved the RP's fees.

## Issues and analysis

### Issue 1: Whether the application for disposal of CA-1373/19 should be allowed given the absence of a …

**Ratio:** Section 33(1)(A) of the IBC allows for the disposal of applications when no resolution

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**Reasoning:** The Bench noted that no resolution plan had been received, and the expression of interest

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**Interpretation:** Section 33(1)(A) is interpreted to mean that if no resolution plan is viable,

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**Application:** Given the absence of a resolution plan and the withdrawal of the expression of

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Appellants:** Captain Offset…
- **Respondents:** Compacts Lamps…

## Timeline

- **2019-10-31 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-11-18 — Next Hearin…**: Scheduled date for the…

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