# In the matter of Edge Brand Architects (India) Pvt Ltd

> NCLT judgment dated 24 Apr 2024. Citation: TCN-2024-NCLT-01624. The case originated from an application filed by Mr. Gautam Singal, the Resolution…

- **Court:** NCLT
- **Order date:** 24 Apr 2024
- **Citation:** TCN-2024-NCLT-01624
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/edge-brand-architects-india-pvt-ltd-9654be1f

## Summary

### Background

The case originated from an application filed by Mr. Gautam Singal, the Resolution Professional of Edge Brand Architects (India) Private Limited, seeking the liquidation of the corporate debtor under Section 33(1)(a) read with Section 33(2) of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of NCLT Rules, 2016. The Corporate Insolvency Resolution Process (CIRP) for Edge Brand Architects (India) Private Limited was initiated on May 9, 2023, following a petition filed under Section 10 of the IBC, 2016. Mr. Laxmikant Yeshwant Desai was initially appointed as the Interim Resolution Professional (IRP).

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## Facts

The Corporate Insolvency Resolution Process (CIRP) for M/s. EDGE Brand Architects (India) Private Limited was initiated by an order dated May 9, 2023, following a petition filed under Section 10 of the IBC, 2016. Mr. Laxmikant Yeshwant Desai was initially appointed as the Interim Resolution Professional (IRP) to oversee the initial stages of the insolvency proceedings.

In the first Committee of Creditors (CoC) meeting held on June 19, 2023, the CoC decided to replace the IRP, and Mr. Pramodkumar Ramesh Ladda was appointed as the Resolution Professional (RP). Subsequently, Form-G was issued on July 24, 2023, and duly published in newspapers to invite Expressions of Interest (EOIs) from prospective resolution applicants.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. EDGE Brand Architects (India) Private Limited, ought to be…

**Ratio:** When the Corporate Insolvency Resolution Process (CIRP) fails to yield a viable…

**Reasoning:** The court reasoned that despite multiple attempts to find a resolution applicant through…

**Interpretation:** The court interpreted the provisions of the IBC, particularly **Section 33**,…

**Application:** Given that the sole eligible PRA declined to submit a resolution plan and the…

## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Advocates:** For the Applicant…; Samita D…

## Timeline

- **May 9, 2023 — CIRP Init…**: The Corporate Insolvency Resolution Process (CIRP) was initiated for M/s. EDGE Brand…
- **June 19, 2023 — RP Appoin…**: In the 1st CoC meeting, Mr. Pramodkumar Ramesh Ladda was appointed as the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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