# In the matter of GTHS Retails Pvt. Ltd. (IB)-210(ND) 2017

> NCLT judgment dated 2019-10-16. Citation: TCN-2019-NCLT-00965. The case involves M/s. PR International V/s. M/s. GTHS Retails Pvt. Ltd. under Section 9 of the…

- **Court:** NCLT
- **Order date:** 16 Oct 2019
- **Citation:** TCN-2019-NCLT-00965
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/gths-retails-pvt-ltd-ib-210nd-2017-0a0a61b8

## Summary

### Background

The case involves M/s. PR International V/s. M/s. GTHS Retails Pvt. Ltd. under Section 9 of the IBC, 2016. The Resolution Professional (RP), Mr. Sandeep Bhatt, sought discharge as the Liquidator, with Mr. Ramit Rastogi's consent.

## Facts

The case pertains to M/s. PR International V/s. M/s. GTHS Retails Pvt. Ltd. under Section 9 of the IBC, 2016. Mr. Sandeep Bhatt, the Resolution Professional (RP), requested to be discharged as Liquidator, citing Mr. Ramit Rastogi's consent. The balance sheet as of September 30, 2019, showed assets exceeding Rs. 45 lakhs available for liquidation. Deutsche Bank, representing the Committee of Creditors (COC), committed to covering the RP's expenses and fees. This commitment was crucial for the court's decision to discharge the RP.

## Issues and analysis

### Issue 1: Whether the Resolution Professional (RP) …

**Ratio:** An RP can be discharged with the consent of the incoming liquidator and upon assurance

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**Reasoning:** The court considered the RP's request, the consent of Mr. Ramit Rastogi (the incoming

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**Interpretation:** This issue involves the interpretation of the IBC provisions related to the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Appellants:** M/s. PR Internatio…
- **Respondents:** M/s. GTHS Retails…

## Timeline

- **2017-01-01 — Case Fil…**: Case filed as…
- **2019-09-30 — Balance She…**: Balance sheet date…

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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/gths-retails-pvt-ltd-ib-210nd-2017-0a0a61b8