# In the matter of DSK Shivajians Football Club Private Limited I.A. 1559-2020 I.A. 672 & 683-2021 In C.P. (IB)3976(MB)-2018

> NCLT judgment dated 2021-07-27. Citation: TCN-2021-NCLT-01596. The case involves an application (IA-672/2021) filed by the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 27 Jul 2021
- **Citation:** TCN-2021-NCLT-01596
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dsk-shivajians-football-club-private-limited-ia-1559-2020-ia-672-683-2021-in-cp-ad9dd5f5

## Summary

### Background

The case involves an application (IA-672/2021) filed by the Resolution Professional (RP) seeking the closure of the Corporate Insolvency Resolution Process (CIRP). An admission order was previously passed on June 10, 2020. The RP stated that no claims were received from either the Operational Creditor or Financial Creditors. The RP also filed a progress report. IA-1559/2020 was already disposed of on 20.09.2020. IA-683/2021 was filed by the Operational Creditor.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Dsk Shivajians Football Club Private Limited. An admission order was passed on June 10, 2020. The Resolution Professional (RP) filed an application (IA-672/2021) seeking the closure of CIRP because no claims were received from the Operational Creditor or any Financial Creditors. The Operational Creditor's outstanding amount was Rs. 19 lakhs. The RP also filed a progress report. The CIRP costs of Rs. 2 Lakh were paid to the IRP. IA-1165 of 2020 was disposed of. The Operational Creditor also filed an application (IA-683/2021).

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should be closed due to the absence of …

**Ratio:** The legal principle is that if no claims are received from creditors after the initiation

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**Reasoning:** The court reasoned that since no claims were received from either the Operational

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**Interpretation:** This interprets the Insolvency and Bankruptcy Code (IBC) to allow for the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** RAJESH S…; SUCHITRAKAN…
- **Respondents:** Dsk Shivajians…; Bee Athletic…

## Timeline

- **2020-06-10 — Admission…**: Admission order was…
- **2020-09-20 — Disposal of IA-…**: IA-1559/2020 was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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