# In the matter of H P Ore Processors Pvt. Ltd. M.A. 432-2018 In C.P. (IB)-1184(MB)-2017

> NCLT judgment dated 2018-05-17. Citation: TCN-2018-NCLT-01393. The case involves H P Ore Processors Pvt. Ltd. and concerns an application under Section 33 of…

- **Court:** NCLT
- **Order date:** 17 May 2018
- **Citation:** TCN-2018-NCLT-01393
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/h-p-ore-processors-pvt-ltd-ma-432-2018-in-cp-ib-1184mb-2017-7096c575

## Summary

### Background

The case involves H P Ore Processors Pvt. Ltd. and concerns an application under Section 33 of the I&B Code for liquidation. The CoC unanimously resolved to proceed with liquidation due to the absence of a Resolution Applicant. The RP moved an application seeking an order under Section 33 for liquidation, which was approved by the CoC.

## Facts

The key facts are as follows: H P Ore Processors Pvt. Ltd. is undergoing insolvency proceedings under the I&B Code 2016. A CoC meeting was held on 2018-05-15, where it was unanimously resolved to proceed with liquidation because there was no Resolution Applicant. The RP moved an application seeking an order under Section 33 of the I&B Code for liquidation. The CoC approved the application. The court considered the application and the CoC's resolution. The proposal to appoint the RP as Liquidator was accepted. The matter was adjourned to 2018-06-26. These facts are relevant because they establish the basis for the court's decision to allow the liquidation process to proceed.

## Issues and analysis

### Issue 1: Whether the application seeking an order under Section 33 of the I&B Code for liquidation …

**Ratio:** Section 33 of the I&B Code allows for liquidation when there is no resolution

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**Reasoning:** The CoC unanimously resolved to proceed with liquidation due to the absence of a

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**Interpretation:** Section 33 of the I&B Code is interpreted to allow liquidation when the

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**Application:** The CoC unanimously approved the liquidation, and there was no Resolution

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## Parties

- **Judges:** M.K. Sh…
- **Respondents:** H P Ore Processors…

## Timeline

- **2018-05-15 — CoC Meet…**: The CoC meeting was held, and it was unanimously resolved to process the liquidation as…
- **2018-05-17 — Order Shee…**: Order sheet of the hearing of Mumbai Bench…

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