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

> NCLT judgment dated 2019-08-27. Citation: TCN-2019-NCLT-01761. 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-01761
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mew-suspensions-pvt-ltd-cp-ib-no-838-kb-2018-acb8a5ef

## 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) in its meeting on August 20, 2019, resolved 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 that no resolution plan was received, and the corporate debtor did not cooperate. The Committee of Creditors (CoC) held a meeting on August 20, 2019, and resolved not to apply for an extension of the CIRP period under section 12 of the Insolvency and Bankruptcy Code (IBC). The RP expressed unwillingness to continue with the liquidation process due to personal reasons. The lack of a resolution plan and the CoC's decision led the court to order the liquidation of the corporate debtor.

## Issues and analysis

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

**Ratio:** Section 33 of the IBC provides for the liquidation of the corporate debtor when no

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**Reasoning:** The court reasoned that since no resolution plan was received within the CIRP period and

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**Interpretation:** The IBC mandates liquidation when the CIRP fails to produce a viable resolution

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**Application:** Given that the RP confirmed the absence of a resolution plan and the CoC's

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## Parties

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

## Timeline

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

## 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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