# In the matter of Deepak Pneumatics Pvt. Ltd. IB)-616(ND)2018

> NCLT judgment dated 2019-05-08. Citation: TCN-2019-NCLT-03417. The case involves Deepak Pneumatics Pvt. Ltd. The facts are peculiar, as there is neither any…

- **Court:** NCLT
- **Order date:** 8 May 2019
- **Citation:** TCN-2019-NCLT-03417
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/deepak-pneumatics-pvt-ltd-ib-616nd2018-48876f1d

## Summary

### Background

The case involves Deepak Pneumatics Pvt. Ltd. The facts are peculiar, as there is neither any business nor any asset of the applicant Corporate Debtor. The Committee of Creditors (COC) comprises workmen who have not received their dues and are unwilling to bear the expenses of any process.

## Facts

The case pertains to Deepak Pneumatics Pvt. Ltd. The Corporate Debtor lacks business or assets. The COC consists of unpaid workmen unwilling to bear process expenses. The IRP's fees were tendered in court. The IRP is discharged because the COC is absent, preventing confirmation of appointment or reimbursement of fees. Without a resolution plan or liquidation decision, further proceedings are impossible, causing resolution and liquidation to fail due to COC's inaction. The matter is scheduled for further consideration on May 27, 2019.

## Issues and analysis

### Issue 1: Whether the IRP can be discharged in the absence of a COC to confirm her appointment and reimburse …

**Ratio:** The IRP can be discharged if there is no COC to confirm the appointment or reimburse fees

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**Reasoning:** The court reasoned that without a COC, there is no entity to confirm the IRP's

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**Interpretation:** This interprets the insolvency code to mean that a functional COC is necessary

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**Application:** In this case, the absence of a functional COC, specifically one willing to

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Respondents:** Deepak Pneumatics…
- **Advocates:** Mukesh Su…

## Timeline

- **2019-05-08 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-05-27 — Further Consi…**: Case put up for further…

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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/deepak-pneumatics-pvt-ltd-ib-616nd2018-48876f1d