# In the matter of Girna Infraprojects Pvt. Ltd. MA-135-2019 in C.P.(IB)-1582-(MB)-2017 in

> NCLT judgment dated 2019-07-24. Citation: TCN-2019-NCLT-02342. The case involves an application (MA-135/2019) filed by the Resolution Professional (RP) under…

- **Court:** NCLT
- **Order date:** 24 Jul 2019
- **Citation:** TCN-2019-NCLT-02342
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/girna-infraprojects-pvt-ltd-ma-135-2019-in-cpib-1582-mb-2017-in-adaa6aed

## Summary

### Background

The case involves an application (MA-135/2019) filed by the Resolution Professional (RP) under section 33(2) of the Insolvency and Bankruptcy Code (I&B Code) before the National Company Law Tribunal (NCLT), Mumbai Bench. A resolution of the Committee of Creditors (COC) dated 09.01.2019 was placed on record and approved by majority. However, since there was no resolution plan for due consideration of COC, as reported vide Resolution No. 4, it was resolved that this is a fit case for granting the process of liquidation.

## Facts

The Resolution Professional (RP) filed an application (MA-135/2019) under section 33(2) of the Insolvency and Bankruptcy Code (I&B Code) seeking an order for liquidation. A resolution of the Committee of Creditors (COC) dated 09.01.2019 was placed on record and approved by majority. The COC determined that no resolution plan was viable, as reported in Resolution No. 4. Consequently, the COC resolved that the corporate debtor should undergo liquidation. Mr. Prakash Nath Mishra, the Learned Counsel for the RP, consented to act as the Liquidator. The relevance of these facts lies in establishing the grounds for initiating the liquidation process, the COC's decision-making process, and the appointment of a liquidator.

## Issues and analysis

### Issue 1: Whether the application filed by the RP under section 33(2) of the I&B Code for liquidation is …

**Ratio:** Section 33(2) of the I&B Code allows the RP to file an application for liquidation if

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**Reasoning:** The COC approved the resolution for liquidation due to the absence of a viable resolution

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**Interpretation:** Section 33(2) provides a mechanism for initiating liquidation when the

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**Application:** The COC approved the resolution for liquidation, and the RP filed the

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Chamunda Earthmove…
- **Respondents:** Girna Infraproject…

## Timeline

- **2019-01-09 — COC Resoluti…**: Resolution of the COC dated 09.01.2019 was…
- **2019-07-24 — Order Da…**: Order sheet of the hearing of Mumbai Bench of the National Company Law Tribunal on…

## 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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