# In the matter of M.M. Cargo Container Line Pvt. Ltd. & Ors. (IB) 204(ND)-2017

> NCLT judgment dated 2018-02-06. Citation: TCN-2018-NCLT-01871. The case involves an application filed by the Resolution Professional (RP) for the initiation…

- **Court:** NCLT
- **Order date:** 6 Feb 2018
- **Citation:** TCN-2018-NCLT-01871
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mm-cargo-container-line-pvt-ltd-ors-ib-204nd-2017-66df2d67

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) for the initiation of liquidation proceedings. The Committee of Creditors (COC) recommended the liquidation in a meeting held on January 31, 2018.

## Facts

The Resolution Professional (RP) filed an application seeking the initiation of liquidation proceedings for M/s Globe Express Services (Oversees Group) Ltd. & Anr. Vs. M/s M.M. Cargo Container Line Pvt. Ltd. & Ors. The Committee of Creditors (COC) had recommended liquidation in a meeting held on January 31, 2018. The court considered the RP's submissions and appointed the RP as the liquidator, directing him to take necessary steps to liquidate the company's assets. The court scheduled a hearing for the filing of the first report on May 7, 2018. The case is under Section 8 & 9 of IBC, 2016.

## Issues and analysis

### Issue 1: Whether the application for initiation of liquidation proceedings should be approved based on the …

**Ratio:** The recommendation of the Committee of Creditors (COC) holds significant weight in

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**Reasoning:** The court considered the recommendation of the COC, which suggested that liquidation was

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**Interpretation:** The interpretation of the Insolvency and Bankruptcy Code (IBC) emphasizes the

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**Application:** In this case, the COC recommended liquidation on January 31, 2018. The court

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## Parties

- **Judges:** Ina Mal…
- **Appellants:** M/s Globe Express…
- **Respondents:** M/s M.M. Cargo…

## Timeline

- **2018-01-31 — COC Meet…**: The Committee of Creditors (COC) recommended…
- **2018-02-06 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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