# In the matter of Dulichand Auto Sales Private Limited IA(I.B.C)-191 & 384(KB)2022 in C.P. (IB)-1396(KB)2019

> Read the full IBC case summary for In the matter of Dulichand Auto Sales Private Limited IA(I.B.C)-191 & 384(KB)2022 in C.P. (IB)-1396(KB)2019. NCLT judgment…

- **Court:** NCLT
- **Order date:** 12 May 2022
- **Citation:** TCN-2022-NCLT-04819
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dulichand-auto-sales-private-limited-iaibc-191-384kb2022-in-cp-ib-1396kb2019-d9f3905e

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) seeking the liquidation of the Corporate Debtor, Dulichand Auto Sales Private Limited, because no resolution plan was received during the Corporate Insolvency Resolution Process (CIRP) period, and the Committee of Creditors (CoC) approved liquidation.

## Facts

The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against Dulichand Auto Sales Private Limited, the Corporate Debtor, on November 18, 2021, following a petition filed by Vinod Distributors Private Limited, a financial creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Jai Narayan Gupta was appointed as the Interim Resolution Professional (IRP).

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Dulichand Auto Sales Private Limited, should be liquidated given that…

**Ratio:** When no resolution plan is received within the Corporate Insolvency Resolution Process…

**Reasoning:** The NCLT noted that no Resolution Plan was received for the Corporate Debtor and the…

**Interpretation:** The court interpreted **section 33(2)** of the Insolvency and Bankruptcy Code,…

**Application:** Given that no resolution plan was submitted for Dulichand Auto Sales Private…

## Parties

- **Judges:** Rohit K…; Harish Chander…
- **Advocates:** Mamta B…; Sidhartha…; +1 more

## Timeline

- **November 18, 2021 — CIRP Init…**: Adjudicating Authority ordered the initiation of Corporate Insolvency Resolution Process…
- **December 15, 2021 — First CoC M…**: The first Committee of Creditors (CoC) meeting was held, and the Interim Resolution…

---

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/dulichand-auto-sales-private-limited-iaibc-191-384kb2022-in-cp-ib-1396kb2019-d9f3905e