# In the matter of Maxx Mobile Communications Pvt. Ltd.  IA No. 2639,2642,2643,2648-2019-2019 & IA No. 2064-2020 & IA No. 2216-2020 in CP (IB) No. 1687-(MB)-2018

> NCLT judgment dated 2021-01-21. Citation: TCN-2021-NCLT-03256. The document pertains to several IA (Interlocutory Application) numbers filed in CP (IB) No.…

- **Court:** NCLT
- **Order date:** 21 Jan 2021
- **Citation:** TCN-2021-NCLT-03256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maxx-mobile-communications-pvt-ltd-ia-no-2639264226432648-2019-2019-ia-no-2064-2-a963fbd3

## Summary

### Background

The document pertains to several IA (Interlocutory Application) numbers filed in CP (IB) No. 1687/(MB)/2018 before the National Company Law Tribunal (NCLT), Mumbai Bench. The applications relate to the liquidation process of Maxx Mobile Communications Limited, with Edelweiss Asset Reconstruction Company Limited as the applicant. One application (IA No. 1412/2020) was filed by the liquidator seeking directions for modification of the list of stakeholders under Regulation 31(3) of the Insolvency and Bankruptcy Board of India (IBBI) (Liquidation Process) Regulations, 2016. Another application (IA No. 2064/2020) was withdrawn by the liquidator. Other IAs (2639/2019, 2641/2019, 2642/2019, and 2643/2019) were listed for hearing.

## Facts

Edelweiss Asset Reconstruction Company Limited initiated a corporate insolvency resolution process against Maxx Mobile Communications Limited. The matter is before the NCLT Mumbai Bench. The liquidator filed IA No. 1412/2020 seeking directions to modify the list of stakeholders under Regulation 31(3) of the IBBI (Liquidation Process) Regulations, 2016, due to additional claims received from operational creditors and employees after the initial report was filed. The liquidator had already admitted claims from creditors and filed a report with the NCLT. The liquidator received three additional claims from operational creditors, including B.Y. Kolekar, Dy. Comm. Of Sales Tax (E-715) Mumbai, Ass. Comm. Shri. Nandkumar Kabmbale Income Tax Mumbai, and Dy. Comm. (Ass.-3)

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## Issues and analysis

### Issue 1: Whether the NCLT should allow the liquidator's application (IA No. 1412/2020) for modification of …

**Ratio:** Regulation 31(3) of the IBBI (Liquidation Process) Regulations, 2016, allows for the

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**Reasoning:** The NCLT considered the application and the pleadings and found it appropriate to allow

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**Interpretation:** Regulation 31(3) provides a mechanism for updating the list of stakeholders to

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**Application:** The NCLT applied Regulation 31(3) to the facts of the case, where the

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## Parties

- **Judges:** V. Nallasen…; Janab Mohammed…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Maxx Mobile…

## Timeline

- **2018-01-01 — CP (IB) No. 1687/(MB)/20…**: Corporate insolvency resolution process initiated against Maxx Mobile Communications…
- **2019-01-01 — Filing o…**: IA No. 2639/2019, IA No. 2642/2019, IA…

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