# In the matter of Mew Suspensions Pvt. Ltd. CP (IB) No. 838-KB-2018

> NCLT judgment dated 2019-08-27. Citation: TCN-2019-NCLT-01753. The case involves Gati Kintetsu Express and Mew Suspensions. The CIRP period of 180 days was…

- **Court:** NCLT
- **Order date:** 27 Aug 2019
- **Citation:** TCN-2019-NCLT-01753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mew-suspensions-pvt-ltd-cp-ib-no-838-kb-2018-9604ec6a

## Summary

### Background

The case involves Gati Kintetsu Express and Mew Suspensions. The CIRP period of 180 days was completed on August 20, 2019. The Resolution Professional (RP) submitted that no resolution plan was received, and there was no cooperation from the corporate debtor. The Committee of Creditors (CoC) passed a resolution in its meeting on August 20, 2019, not to seek an extension of the CIRP period under section 12 of the IBC.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Gati Kintetsu Express. The CIRP period of 180 days concluded on August 20, 2019. The Resolution Professional (RP) reported the absence of a resolution plan and a lack of cooperation from the corporate debtor. A meeting of the Committee of Creditors (CoC) held on August 20, 2019, resulted in a resolution not to seek an extension of the CIRP period under Section 12 of the Insolvency and Bankruptcy Code (IBC). The RP expressed a desire to discontinue further liquidation proceedings due to personal reasons.

## Issues and analysis

### Issue 1: Whether the corporate debtor should be liquidated due to the absence of a resolution plan and the …

**Ratio:** Section 33 of the IBC mandates liquidation if no resolution plan is approved or the CIRP

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**Reasoning:** The court reasoned that the absence of a resolution plan, coupled with the CoC's decision

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**Interpretation:** Section 33 of the IBC is interpreted to mean that liquidation is the inevitable

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**Application:** Given the facts that no resolution plan was received and the CoC resolved

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Respondents:** Gati Kintetsu…; Mew Suspe…

## Timeline

- **2019-08-20 — CIRP Comp…**: The CIRP period of 180…
- **2019-08-20 — CoC Meet…**: The Committee of Creditors (CoC) passed a resolution not to pray for an extension of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12 — Time-limit for completion of insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12)

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