# In the matter of JODPL Private Limited CP No. 25-ALD-2017

> NCLT judgment dated 2017-12-18. Citation: TCN-2017-NCLT-00038. The application was filed by the Resolution Professional of JODPL Private Limited, the…

- **Court:** NCLT
- **Order date:** 18 Dec 2017
- **Citation:** TCN-2017-NCLT-00038
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jodpl-private-limited-cp-no-25-ald-2017-0839eaff

## Summary

### Background

The application was filed by the Resolution Professional of JODPL Private Limited, the Corporate Debtor, under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking an order for liquidation. The Committee of Creditors had approved the liquidation within the prescribed period of 270 days. The corporate insolvency resolution process could not materialize a resolution plan for the Corporate Debtor. The Tribunal admitted the petition under Section 10 of the Insolvency and Bankruptcy Code and appointed Mr. Dinkar T. Venkatasubramanian as an Interim Resolution Professional, who was later confirmed by the Committee of Creditors.

## Facts

JODPL Private Limited, the Corporate Debtor, underwent a corporate insolvency resolution process. The Resolution Professional filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking an order for liquidation. The Committee of Creditors approved the liquidation. The Tribunal had previously admitted a petition under Section 10 of the Insolvency and Bankruptcy Code and appointed Mr. Dinkar T. Venkatasubramanian as the Interim Resolution Professional. The Resolution Professional initiated a process through the Committee of Creditors to prepare a resolution plan. Two registered valuers, Duff & Phelps India Private Limited and RBSA Valuation Advisors LLP, submitted valuation reports. The liquidation value computed by RBSA Valuation

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, JODPL Private Limited, should be …

**Ratio:** Section 33 of the Insolvency and Bankruptcy Code, 2016, allows the Adjudicating Authority

…

**Reasoning:** The court reasoned that the Committee of Creditors had approved the liquidation, and the

…

**Interpretation:** Section 33 of the Insolvency and Bankruptcy Code, 2016, provides the framework

…

**Application:** The court applied Section 33 to the facts, noting that the Committee of

…

## Parties

- **Judges:** Harihar Prakash…
- **Respondents:** JODPL PRIVATE…
- **Advocates:** Mish…; Siddhant…; +1 more

## Timeline

- **2017-03-17 — Tribunal…**: The Tribunal admitted the petition under Section 10 of the Insolvency and Bankruptcy Code…
- **2017-04-24 — Valuation…**: RBSA Valuation Advisors LLP…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

---

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/jodpl-private-limited-cp-no-25-ald-2017-0839eaff