# In the matter of Devansh International Pvt. Ltd. IA No. 394-2020 in CP(IB) 326-NCLT-AHM-2019

> NCLT judgment dated 2020-08-14. Citation: TCN-2020-NCLT-00848. The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 14 Aug 2020
- **Citation:** TCN-2020-NCLT-00848
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/devansh-international-pvt-ltd-ia-no-394-2020-in-cpib-326-nclt-ahm-2019-62008507

## Summary

### Background

The case involves an application filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, for the liquidation of Devansh International Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by an Operational Creditor, Mr. Jani Mitkumar Anantray, under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP).

## Facts

Mr. Jani Mitkumar Anantray, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Devansh International Private Limited under Section 9 of the IBC. The Adjudicating Authority admitted the CIRP application on 16.12.2019 and appointed CA Tejas Shah as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) decided on 20.01.2020 to continue with the IRP as RP. In a subsequent meeting on 24.02.2020, the CoC, with 100% voting share, resolved to liquidate the Corporate Debtor because it lacked tangible or intangible assets and was not conducting business. The CoC decided to file an application for liquidation under Section 33 of the IBC. The Adjudicating Authority found that the company had no business or assets except

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has the jurisdiction to interfere with the commercial wisdom of …

**Ratio:** The Adjudicating Authority has no jurisdiction to interfere in the commercial wisdom of

…

**Reasoning:** The court relied on the principle that the commercial wisdom of the Committee of

…

**Interpretation:** This principle emphasizes the autonomy of the CoC in making decisions related

…

**Application:** In this case, the CoC decided to liquidate the Corporate Debtor due to the

…

## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Devansh Internatio…
- **Advocates:** Vinit N…

## Timeline

- **2019-12-16 — CIRP Admi…**: Adjudicating Authority admitted the Corporate Insolvency Resolution Process (CIRP)…
- **2020-01-20 — CoC First M…**: Committee of Creditors (CoC) decided…

## Legal provisions

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

---

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/devansh-international-pvt-ltd-ia-no-394-2020-in-cpib-326-nclt-ahm-2019-62008507