# In the matter of Delta Automobiles Pvt. Ltd. MA 1236-2018 In C.P. No. 97-I&BP-NCLT-MAH-2018

> NCLT judgment dated 2018-12-03. Citation: TCN-2018-NCLT-00234. The case pertains to MA 1236/2018 in C.P. NO. 97/I&BP/NCLT/MAH/2018 before the National Company…

- **Court:** NCLT
- **Order date:** 3 Dec 2018
- **Citation:** TCN-2018-NCLT-00234
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/delta-automobiles-pvt-ltd-ma-1236-2018-in-cp-no-97-ibp-nclt-mah-2018-03229fc5

## Summary

### Background

The case pertains to MA 1236/2018 in C.P. NO. 97/I&BP/NCLT/MAH/2018 before the National Company Law Tribunal, Mumbai Bench. The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016, concerning Delta Automobiles Pvt. Ltd., the Corporate Debtor. The applicant, Narendra Mangilal Parikh, the Interim Resolution Professional, sought orders for liquidation of the Corporate Debtor.

## Facts

Delta Automobiles Pvt. Ltd., the Corporate Debtor, was admitted into Corporate Insolvency Resolution Process (CIRP) by an order of the NCLT dated 2018-06-13. Narendra Mangilal Parikh was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Public announcement under Section 15 of the Insolvency and Bankruptcy Code (IBC) was made on 2018-07-01 and 2018-07-02. Claims were received, and a list of creditors was prepared on 2018-07-20. The Committee of Creditors (CoC) was formed, and valuers were appointed to value the assets. In a meeting held on 2018-09-06, the CoC discussed the possibilities of resolution. Subsequently, the CoC unanimously decided to liquidate the company. The Resolution Professional then filed an

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Delta Automobiles Pvt. Ltd., …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code allows the Adjudicating Authority to

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**Reasoning:** The court noted that the Committee of Creditors had unanimously decided to liquidate the

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**Interpretation:** Section 33(2) provides a mechanism for liquidation based on the commercial

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**Application:** In this case, the Committee of Creditors unanimously decided to liquidate Delta

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Appellants:** Narendra Mangilal…
- **Respondents:** Delta Automobiles…
- **Advocates:** Omkar Deva…

## Timeline

- **2018-06-13 — CIRP Init…**: Delta Automobiles Pvt. Ltd. was put on…
- **2018-07-01 — Public Annou…**: Public announcement u/s…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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