# In the matter of Nadia Health Care Private Ltd. CA(IB) No. 557-KB-2019 in CP (IB) No. 108-KB-2018

> NCLT judgment dated 2019-07-30. Citation: TCN-2019-NCLT-02206. The case involves an application for the initiation of the Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 30 Jul 2019
- **Citation:** TCN-2019-NCLT-02206
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nadia-health-care-private-ltd-caib-no-557-kb-2019-in-cp-ib-no-108-kb-2018-1b9547a5

## Summary

### Background

The case involves an application for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Nadia Health Care Private Ltd. Sarla Tantia, the Operational Creditor, filed the application due to the Corporate Debtor's alleged default in paying lease rent amounting to Rs.2,33,45,860/-. The CIRP was initiated, and Mr. Hrishikesh Dasgupta was appointed as the Interim Resolution Professional (IRP).

## Facts

Sarla Tantia, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Nadia Health Care Private Limited, the Corporate Debtor. The application was based on the Corporate Debtor's alleged default in paying lease rent amounting to Rs.2,33,45,860/-. The CIRP was initiated on 2018-10-05, and Hrishikesh Dasgupta was appointed as the IRP. The IRP made a public announcement of the CIRP and called upon creditors to submit their claims. The Committee of Creditors (CoC) was formed, consisting of State Bank of India with 100% voting rights. The CoC directed the RP to prepare an Information Memorandum. Despite efforts, no resolution plan was received. Consequently, the CoC decided to request the authority to pass an order

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Nadia Health Care Private Limited, should be liquidated due to the …

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

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**Reasoning:** The court reasoned that despite the initiation of CIRP, public announcement, formation of

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**Interpretation:** Section 33 of the I&B Code is interpreted to mean that if the CIRP fails to

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**Application:** In this case, the absence of a resolution plan, despite the efforts of the CoC

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## Parties

- **Judges:** Madan B.…
- **Respondents:** Nadia Health Care…; Sarla T…

## Timeline

- **2018-10-05 — Admission in…**: The authority admitted the corporate debtor into Corporate Insolvency Resolution Process…
- **2018-10-08 — Public Announcement of…**: The Interim Resolution Professional (IRP)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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