# In the matter of Maha Urja Utilities Private Limited CP(IB)-686(MB)-2017

> NCLT judgment dated 2019-06-17. Citation: TCN-2019-NCLT-02876. The case involves an application for liquidation of Nisa Industrial Services Private Limited…

- **Court:** NCLT
- **Order date:** 17 Jun 2019
- **Citation:** TCN-2019-NCLT-02876
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maha-urja-utilities-private-limited-cpib-686mb-2017-6c71874f

## Summary

### Background

The case involves an application for liquidation of Nisa Industrial Services Private Limited under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) commenced on July 24, 2018. The Committee of Creditors (CoC) resolved for liquidation due to the absence of a resolution plan. The Resolution Professional (RP) filed MA-1637/2019 for liquidation.

## Facts

Nisa Industrial Services Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP commenced on July 24, 2018. The Resolution Professional (RP) filed Application MA-1637/2019 for liquidation under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) resolved for liquidation on April 26, 2019, as no resolution plan was received within the statutory period of 270 days, which expired on April 20, 2019. The RP expressed unwillingness to act as the liquidator. The CoC had 100% voting in favor of liquidation. The order commencing CIRP was received by the applicant on July 31, 2018. The applicant received claims from one Operational Creditor of the Corporate Debtor. The Applicant's appointment was

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(1)(a) of the Insolvency and …

**Ratio:** Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, allows for the liquidation

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**Reasoning:** The Committee of Creditors, with a 100% vote, resolved for liquidation as no resolution

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**Interpretation:** Section 33(1)(a) provides a clear pathway for liquidation when the CIRP fails

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**Application:** Since no resolution plan was received and the CoC voted for liquidation, the

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## Parties

- **Judges:** V. P. S…
- **Respondents:** Nisa Industrial…; MahaUrja Utilities…

## Timeline

- **2018-07-24 — CIRP Commen…**: Corporate Insolvency Resolution Process…
- **2018-08-03 — Public Annou…**: Public announcement was…

## 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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