# In the matter of New Tech Fitting Pvt. Ltd. IA No. 48-2019 in C.P. No. (IB) 23-10-NCLT-AHM-2017

> NCLT judgment dated 2019-06-03. Citation: TCN-2019-NCLT-03089. M/s New-Tech Fittings Private Limited (Corporate Debtor) filed an application under Section 10…

- **Court:** NCLT
- **Order date:** 3 Jun 2019
- **Citation:** TCN-2019-NCLT-03089
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-tech-fitting-pvt-ltd-ia-no-48-2019-in-cp-no-ib-23-10-nclt-ahm-2017-a70faf58

## Summary

### Background

M/s New-Tech Fittings Private Limited (Corporate Debtor) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of Resolution Process before the NCLT Ahmedabad Bench. The Adjudicating Authority passed an order dated 23.05.2017 initiating Corporate Insolvency Resolution Process against the Corporate Debtor, declaring a moratorium, and appointing Mr. Devendra Jain as IRP. The IRP convened the first meeting of the COC on 30.06.2017. Mr. Ramubhai S. Patel was appointed as the RP on 31.08.2017. The CIRP period expired on 19.11.2017. In a COC meeting on 27.10.2017, the decision was made to take the company into liquidation as no resolution plan was received or approved. The RP then filed an application under section 33(1) of the

…

## Facts

M/s New-Tech Fittings Private Limited (Corporate Debtor) initiated a corporate insolvency resolution process (CIRP) by filing an application under Section 10 of the Insolvency and Bankruptcy Code, 2016. The NCLT Ahmedabad Bench admitted the application on 23.05.2017, initiating CIRP, declaring a moratorium, and appointing Mr. Devendra Jain as the Interim Resolution Professional (IRP). The first meeting of the Committee of Creditors (COC) was held on 30.06.2017. Mr. Ramubhai S. Patel was appointed as the Resolution Professional (RP) on 31.08.2017. The CIRP period expired on 19.11.2017. In the third COC meeting on 27.10.2017, the COC decided to liquidate the company as no resolution plan was received or approved. Consequently, the RP filed an application under Section

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s New Tech Fittings Private Limited, should be dissolved under …

**Ratio:** Section 54 of the Insolvency and Bankruptcy Code, 2016, allows the Adjudicating Authority

…

**Reasoning:** The Adjudicating Authority observed that the Liquidator had taken all necessary steps to

…

**Interpretation:** Section 54 provides a mechanism for formally dissolving a corporate entity once

…

**Application:** The Adjudicating Authority, being satisfied that the assets of the Corporate

…

## Parties

- **Judges:** Manorama…
- **Appellants:** Ramubhai S.…
- **Respondents:** New Tech Fittings…; Rajkot Nagrik…

## Timeline

- **2017-05-23 — Initiation…**: Adjudicating Authority passed an order initiating Corporate Insolvency Resolution Process…
- **2017-06-30 — First COC M…**: The IRP convened the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

---

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/new-tech-fitting-pvt-ltd-ia-no-48-2019-in-cp-no-ib-23-10-nclt-ahm-2017-a70faf58