# In the matter of Maxx Mobile Communication Ltd. IA No. 2643-MB-2019 in CP (IB) No. 1687-MB-2018

> NCLT judgment dated 2021-02-11. Citation: TCN-2021-NCLT-03071. The case involves multiple applications (IA Nos. 2639/MB/2019, 2641/MB/2019, 2642/2019,…

- **Court:** NCLT
- **Order date:** 11 Feb 2021
- **Citation:** TCN-2021-NCLT-03071
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maxx-mobile-communication-ltd-ia-no-2643-mb-2019-in-cp-ib-no-1687-mb-2018-ef0a1a1d

## Summary

### Background

The case involves multiple applications (IA Nos. 2639/MB/2019, 2641/MB/2019, 2642/2019, 2643/MB/2019, 2648/2019, and 2216/2020) filed in connection with a Corporate Insolvency Resolution Process (CIRP) against Maxx Mobile Communications Ltd. The applications primarily concern the withdrawal of attachment notices issued by various authorities (Income Tax Department, Sales Tax Department, and Customs Department) on the assets of the Corporate Debtor. The Corporate Debtor was subsequently ordered to be liquidated, and the company has been sold as a going concern in the liquidation process. The Resolution Professional, Ashok Kumar Dewan, filed these applications seeking directions to withdraw the attachments and handover the assets to the Liquidator.

## Facts

Edelweiss Asset Reconstruction Company Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Maxx Mobile Communications Ltd. Ashok Kumar Dewan was appointed as the Resolution Professional. During the CIRP, various authorities, including the Assistant Commissioner of Income Tax, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Deputy Commissioner of Sales Tax, and the Commissioner of Customs, issued attachment notices on the assets of Maxx Mobile Communications Ltd. The Resolution Professional filed multiple applications (IA Nos. 2639/MB/2019, 2641/MB/2019, 2642/2019, 2643/MB/2019, 2648/2019, and 2216/2020) seeking the withdrawal of these attachment notices. The Corporate Debtor was subsequently ordered to be liquidated by an order dated 2019-08-21. The

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## Issues and analysis

### Issue 1: Whether the attachment notices issued by various authorities under different tax laws can be …

**Ratio:** The legal principle applied is that the Insolvency and Bankruptcy Code (IBC), 2016, has

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**Reasoning:** The court reasoned that the IBC was enacted to bring about resolution to corporate

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**Interpretation:** The interpretation is that the IBC's objective of resolving insolvency and

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**Application:** In this specific case, the attachment notices issued by the Income Tax

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## Parties

- **Judges:** Janab Mohammed…; V. Nallasen…
- **Appellants:** Ashok Kumar…
- **Respondents:** Maxx Mobile…; Assistant…

## Timeline

- **2017-01-18 — Attachment Notices…**: Respondent No. 1 issued Attachment…
- **2017-03-20 — Attachment Notices…**: Respondent No. 1 issued Attachment…

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