# In the matter of D C Industrial Plant Services Private Limited I.A. (IB) No. 294-KB-2022 in C.P. (IB) No. 45-KB-2018

> Read the full IBC case summary for In the matter of D C Industrial Plant Services Private Limited I.A. (IB) No. 294-KB-2022 in C.P. (IB) No. 45-KB-2018. NCLT…

- **Court:** NCLT
- **Order date:** 18 May 2022
- **Citation:** TCN-2022-NCLT-04799
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/d-c-industrial-plant-services-private-limited-ia-ib-no-294-kb-2022-in-cp-ib-no-4-48f6b9bf

## Summary

### Background

The applicant, a successful purchaser of the corporate debtor, filed an application seeking various reliefs including directions to the liquidator and municipal authorities to assist in procuring licenses and extinguishing pre-acquisition tax dues, to enable the corporate debtor to continue operations as a going concern.

## Facts

The corporate debtor was ordered into liquidation on June 19, 2019, and subsequently sold as a going concern under Regulation 32A of the IBBI (Liquidation Process) Regulations 2016. An MoU between the liquidator and the applicant, granting operational control to the successful auction purchaser, was approved on August 13, 2021. This allowed the applicant to commence operations while the full sale consideration was being deposited, in view of the corporate debtor's pending projects.

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## Issues and analysis

### Issue 1: Whether the liquidator is obligated to assist the applicant in procuring valid factory licenses and…

**Ratio:** The NCLT did not grant this specific relief, implying that the liquidator was not…

**Reasoning:** The liquidator argued that the factory license and fire NOC expired prior to the…

**Interpretation:** The court interpreted the terms of sale, particularly "As is Where is" and "No…

**Application:** The court applied this interpretation to deny the applicant's request for the…

## Parties

- **Judges:** Rajasekha…; Balraj…
- **Advocates:** Mr Shaunak…; Mr Sayant…; +2 more

## Timeline

- **June 19, 2019 — Liquidation…**: The corporate debtor was sent into…
- **August 13, 2021 — MOU Appr…**: The Adjudicating Authority approved the Memorandum of Understanding between the…

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