# In the matter of Jan Aahar Pvt. Ltd. (IB)-565(ND)2017

> NCLT judgment dated 2019-04-25. Citation: TCN-2019-NCLT-03705. The case involves a situation where, besides the petitioner, there are no other claimants. The…

- **Court:** NCLT
- **Order date:** 25 Apr 2019
- **Citation:** TCN-2019-NCLT-03705
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jan-aahar-pvt-ltd-ib-565nd2017-a098154e

## Summary

### Background

The case involves a situation where, besides the petitioner, there are no other claimants. The petitioner, acting as the Operational Creditor, is the sole member of the Committee of Creditors (COC). The ex-directors are absconding, and due to the absence of assets, no resolution plan can be explored. There is some money available in the Corporate Debtor's account.

## Facts

The petitioner is the sole operational creditor and member of the COC. The ex-directors of the corporate debtor are absconding. There are no assets available, making a resolution plan impossible. Some money is available in the corporate debtor's account. The petitioner is unwilling to infuse more funds. The RP seeks discharge. The court directs the RP to list all bank accounts of the corporate debtor and release funds to the claimant for partial discharge of their outstanding claim and CIR costs. The case is to be heard again on May 9th, 2019.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should be …

**Ratio:** The discharge of the RP is contingent upon fulfilling certain directives from the court,

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**Reasoning:** The court withholds the RP's discharge to ensure that the available funds are properly

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**Interpretation:** The court interprets its power to oversee the CIRP to include the ability to

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**Application:** The RP's discharge is not granted immediately. Instead, the RP is directed to

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Naveen Ch…
- **Respondents:** Naveen Chandok…; jan Aahar Pvt.…

## Timeline

- **2019-04-25 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-05-09 — Next Hearin…**: Case to come up for…

## 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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