# In the matter of Infonet Asia Private Limited CP-536-(IB)-CB-2017

> NCLT judgment dated 2017-08-28. Citation: TCN-2017-NCLT-00516. The case involves a company petition filed by Autocap India Private Limited, the Operational…

- **Court:** NCLT
- **Order date:** 28 Aug 2017
- **Citation:** TCN-2017-NCLT-00516
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/infonet-asia-private-limited-cp-536-ib-cb-2017-5b9dff06

## Summary

### Background

The case involves a company petition filed by Autocap India Private Limited, the Operational Creditor, against Infonet Asia Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code 2016. The Adjudicating Authority had previously admitted the petition and declared a moratorium on 02.08.2017.

## Facts

Autocap India Private Limited, identified as the 'Petitioner/Operational Creditor', filed a company petition against Infonet Asia Private Limited, identified as the 'Respondent/Corporate Debtor', under Section 9 of the Insolvency and Bankruptcy Code 2016. The Adjudicating Authority had already admitted the petition and declared a moratorium on 02.08.2017. The petitioner did not propose an Interim Resolution Professional (IRP). The court then directed the registry to make a reference to the Insolvency and Bankruptcy Board of India (IBBI) to recommend an IRP. The IBBI recommended Mr. S. Rajagopal, who was subsequently appointed as the IRP for a period of 30 days.

## Issues and analysis

### Issue 1: Whether an Interim Resolution Professional (IRP) should be appointed for the Corporate Debtor, …

**Ratio:** The Insolvency and Bankruptcy Code (IBC) provides for the appointment of an IRP to manage

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**Reasoning:** Since the petitioner did not propose an IRP, the court directed the registry to refer the

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**Interpretation:** The IBC allows for the appointment of an IRP even if the petitioner does not

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**Application:** In this case, the court applied the provisions of the IBC to appoint Mr. S.

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** Autocap India…
- **Respondents:** Infonet Asia…
- **Advocates:** Monish K…

## Timeline

- **2017-08-02 — Admission of Petition…**: The Adjudicating Authority admitted the…
- **2017-08-23 — IBBI Recomme…**: The Registry received a communication from IBBI recommending the name of Mr. S. Rajagopal…

## 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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