# In the matter of Enviro Bulkk Handling Systems Pvt. Ltd. I.A. No. 741 of 2021 in C.P. (IB) No. 1319-MB-2017

> NCLT judgment dated 2021-06-21. Citation: TCN-2021-NCLT-01941. The case involves an application (I.A. No. 741 of 2021) filed in the National Company Law…

- **Court:** NCLT
- **Order date:** 21 Jun 2021
- **Citation:** TCN-2021-NCLT-01941
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/enviro-bulkk-handling-systems-pvt-ltd-ia-no-741-of-2021-in-cp-ib-no-1319-mb-2017-849d4f2e

## Summary

### Background

The case involves an application (I.A. No. 741 of 2021) filed in the National Company Law Tribunal (NCLT), Mumbai Bench, concerning the Corporate Insolvency Resolution Process (CIRP) of Enviiro Bulkk Handling Systems Pvt Ltd. The CIRP was initiated following a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016. After the failure of the resolution process, the Committee of Creditors recommended liquidation. The liquidator conducted an auction for the sale of the Corporate Debtor as a going concern. The first auction was unsuccessful. Subsequently, the liquidator filed an application seeking permission for the sale of non-core assets. The Applicants then preferred an Intervention Application praying for the sale of the Corporate Debtor as a going

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## Facts

1. A petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) for Enviiro Bulkk Handling Systems Pvt Ltd on 04.12.2017.
2. The Committee of Creditors (CoC) recommended liquidation of the Corporate Debtor as a going concern after the failure of the resolution process.
3. The Tribunal ordered the Corporate Debtor to be liquidated as a going concern on 27.03.2019 and appointed Mr. Rajat Mukherjee as the Liquidator.
4. The Liquidator conducted an auction of the Corporate Debtor as a going concern on 21.09.2019, but it was unsuccessful due to the lack of bids.
5. The Liquidator filed an application (IA No. 2131 of 2020) seeking permission to sell non-core assets of the Corporate

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## Issues and analysis

### Issue 1: Whether the sale of the Corporate Debtor as a going concern is permissible under the Insolvency and …

**Ratio:** Regulation 32 of the Liquidation Process Regulations provides for the realisation of

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**Reasoning:** The Tribunal relied on Regulation 32 of the Liquidation Process Regulations, which

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**Interpretation:** The legal issue concerns the interpretation of the Insolvency and Bankruptcy

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**Application:** The ratio and reasoning apply to the specific facts of the case because the

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## Parties

- **Judges:** Janab Mohammed…; V. Nallasen…
- **Appellants:** Janhavi…
- **Respondents:** Enviiro Bulkk…; M/s Enviiro Bulkk…

## Timeline

- **2017-12-04 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated for Enviiro Bulkk Handling…
- **2019-03-27 — Liquidation…**: Tribunal ordered the Corporate Debtor to be liquidated as a going concern and appointed…

## 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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