# In the matter of Metal Holding India Pvt. Ltd. IA 58 of 2018 in C.P. (I.B) No. 68-10-NCLT-AHM-2017

> NCLT judgment dated 2018-05-11. Citation: TCN-2018-NCLT-01421. The case pertains to IA 58 of 2018 in C.P. (I.B) No. 68/10/NCLT/AHM/2017 before the National…

- **Court:** NCLT
- **Order date:** 11 May 2018
- **Citation:** TCN-2018-NCLT-01421
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/metal-holding-india-pvt-ltd-ia-58-of-2018-in-cp-ib-no-68-10-nclt-ahm-2017-16ae0794

## Summary

### Background

The case pertains to IA 58 of 2018 in C.P. (I.B) No. 68/10/NCLT/AHM/2017 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The application was filed under section 33 of the Insolvency and Bankruptcy Code (IBC), 2016, on behalf of the resolution professional, seeking an order for the liquidation of the Corporate Debtor, Metal Holdings India Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) had commenced based on a petition filed by Metal Holdings India Pvt Ltd. under section 10 of the Code, with the appointment of an Interim Resolution Professional (IRP).

## Facts

Metal Holdings India Pvt Ltd. initiated Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) convened its 6th meeting on February 6, 2018, and resolved to recommend liquidation due to the absence of a viable resolution plan. The 180-day period for the CIRP had expired on February 13, 2018. The resolution professional filed an application under Section 33 of the IBC seeking an order for liquidation. The COC unanimously voted in favor of liquidation. The Adjudicating Authority considered the application and the COC's decision.

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Metal Holdings India Pvt Ltd., …

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

…

**Reasoning:** The COC, in its 6th meeting, resolved to recommend liquidation due to the absence of a

…

**Interpretation:** Section 33 is interpreted to mean that if no resolution plan is forthcoming and

…

**Application:** Since no resolution plan was received and the COC unanimously voted for

…

## Parties

- **Judges:** Harihar Prakash…; Manorama…
- **Appellants:** Anurag Sinh…
- **Respondents:** Metal Holdings…; Metal Holding…

## Timeline

- **2018-02-06 — COC Meet…**: The COC in its 6th meeting resolved to…
- **2018-02-13 — CIRP Perio…**: The 180-day period provided for the Corporate…

## 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/metal-holding-india-pvt-ltd-ia-58-of-2018-in-cp-ib-no-68-10-nclt-ahm-2017-16ae0794