# In the matter of Getit Grocery Pvt. Ltd. (IB)-295(PB)2017

> NCLT judgment dated 2018-07-09. Citation: TCN-2018-NCLT-01172. The application was filed under Section 33 of the IBC 2016 read with Regulation 3 of the…

- **Court:** NCLT
- **Order date:** 9 Jul 2018
- **Citation:** TCN-2018-NCLT-01172
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/getit-grocery-pvt-ltd-ib-295pb2017-1aa5d021

## Summary

### Background

The application was filed under Section 33 of the IBC 2016 read with Regulation 3 of the Insolvency & Bankruptcy Board of India (Liquidation process) Regulation 2016, seeking a direction to liquidate M/s Getit Grocery Pvt. Ltd. The application also sought the appointment of the RP as the Liquidator for the purpose of liquidation of the Corporate Debtor. The application is supported by a resolution passed by the COC comprised of the operational creditor, as there was no financial creditor of the company. The petition under Section 9 was admitted on 2018-01-08, and the CoC, in its third meeting dated 2018-05-10 during the CIRP process, passed a resolution recommending liquidation of the company by 100% vote sharing. The directors have tendered their resignation on

…

## Facts

Innovsource Pvt. Ltd. filed an application under Section 33 of the IBC 2016 read with Regulation 3 of the Insolvency & Bankruptcy Board of India (Liquidation process) Regulation 2016, seeking a direction to liquidate Getit Grocery Pvt. Ltd. The application also sought the appointment of the RP as the Liquidator. The application was supported by a resolution passed by the COC comprised of the operational creditor, as there was no financial creditor of the company. The petition under Section 9 was admitted on 2018-01-08, and the CoC, in its third meeting dated 2018-05-10 during the CIRP process, passed a resolution recommending liquidation of the company by 100% vote sharing. The directors have tendered their resignation on 2016-08-17. The court noted that there were

…

## Issues and analysis

### Issue 1: Whether the adjudicating authority must pass a liquidation order when the RP intimates the decision …

**Ratio:** When the RP intimates the adjudicating authority about the decision of the CoC to

…

**Reasoning:** The court relied on the provisions of Section 33(1) and (2) of the IBC, which mandate the

…

**Interpretation:** Section 33(1) and (2) of the IBC are interpreted to mean that the adjudicating

…

**Application:** In this case, the CoC had passed a resolution recommending liquidation of Getit

…

## Parties

- **Judges:** CHIEF JUSTICE…; S. K. MOH…
- **Appellants:** Innovsource Pvt.…
- **Respondents:** Getit Grocery…

## Timeline

- **2016-08-17 — Directors' Res…**: The directors of the company…
- **2018-01-08 — Section 9 Petition…**: The petition under Section 9…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

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/getit-grocery-pvt-ltd-ib-295pb2017-1aa5d021