# In the matter of Maktel Control & Systems Private Limited I.A. No. 585 (AHM)-2021 in C.P (IB)499 of 2019

> NCLT judgment dated 2021-11-23. Citation: TCN-2021-NCLT-00432. The application was filed by the Resolution Professional, Mr. Dharit Kishorbhai Shah, for the…

- **Court:** NCLT
- **Order date:** 23 Nov 2021
- **Citation:** TCN-2021-NCLT-00432
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maktel-control-systems-private-limited-ia-no-585-ahm-2021-in-cp-ib499-of-2019-054085ef

## Summary

### Background

The application was filed by the Resolution Professional, Mr. Dharit Kishorbhai Shah, for the liquidation of the Corporate Debtor, M/s Maktel Control & Systems Pvt. Ltd., under Section 33 of the Insolvency and Bankruptcy Code, 2016, due to the non-receipt of a resolution plan. The Corporate Debtor was admitted into CIRP vide an order dated 02.002.2021. Mr. Dharit Kishorbhai Shah was appointed as the IRP. During the CIRP, a public announcement was made for submission of claims by creditors on 04.02.2021, and the COC was constituted on 25.02.2021. The COC decided to publish EOI, and Form-G was published on 18.04.2021.

## Facts

The Resolution Professional, Dharit Kishorbhai Shah, filed an application for the liquidation of M/s Maktel Control & Systems Pvt. Ltd. because no resolution plan was received. The Corporate Debtor was admitted into CIRP on 02.02.2021. The IRP made a public announcement for creditors' claims. The COC was formed and decided to publish an Expression of Interest (EOI). Form-G was published on 18.04.2021. Two EOIs were received, but no resolution plan was submitted by the deadline of 10.07.2021. The COC resolved to initiate liquidation under Section 33 of the IBC. The COC had not approved the liquidation cost or exploring the sale of the Corporate Debtor as a going concern, as per Regulations 39B and 39C of IBBI. The CIRP period expired on 31.07.2021, and no extension

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor should be allowed due to the …

**Ratio:** Section 33 of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of

…

**Reasoning:** The court noted that despite multiple publications of EOI, no resolution plan was

…

**Interpretation:** Section 33 provides the legal basis for initiating liquidation when the CIRP

…

**Application:** Since no resolution plan was received despite efforts, the court applied

…

## Parties

- **Judges:** Madan B.…; Ajai Das Me…
- **Appellants:** Dharit Kishorbhai…
- **Respondents:** Maktel Control &…; Urja Shakti Sales…
- **Advocates:** Atul Sh…

## Timeline

- **2021-02-02 — Admission in…**: Corporate Debtor was admitted into CIRP…
- **2021-02-04 — Public Annou…**: IRP made a public announcement for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

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/maktel-control-systems-private-limited-ia-no-585-ahm-2021-in-cp-ib499-of-2019-054085ef