# In the matter of New Tech Fittings Pvt Ltd. CP (IB) No. 23-10-NCLT-AHM-2017

> NCLT judgment dated 2017-12-18. Citation: TCN-2017-NCLT-00037. The case involves IA 376 of 2017 filed in C.P. (I.B) No. 23/10/NCLT/AHM/2017 before the…

- **Court:** NCLT
- **Order date:** 18 Dec 2017
- **Citation:** TCN-2017-NCLT-00037
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-tech-fittings-pvt-ltd-cp-ib-no-23-10-nclt-ahm-2017-52caf380

## Summary

### Background

The case involves IA 376 of 2017 filed in C.P. (I.B) No. 23/10/NCLT/AHM/2017 before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). The application was filed by the resolution professional seeking an order of liquidation under section 33(2) of the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by New Tech Fittings Pvt Ltd. (Corporate Debtor) under section 10 of the Code.

## Facts

The case pertains to the insolvency resolution of New Tech Fittings Pvt Ltd. The CIRP was initiated based on a petition filed by New Tech Fittings Pvt Ltd. under section 10 of the IBC. The COC, in its meeting on 2017-10-27, concluded that a resolution plan was not possible. The 180-day period for arriving at a resolution plan had also expired. The resolution professional filed an application seeking an order of liquidation under section 33(2) of the Code. The Adjudicating Authority considered these facts and ordered the liquidation of the corporate debtor. The relevance of the facts lies in establishing the failure of the resolution process and the subsequent decision to proceed with liquidation.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in ordering the liquidation of the Corporate …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code (IBC) allows the Adjudicating

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**Reasoning:** The COC, in its third meeting, resolved that a resolution plan was not possible. The

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**Interpretation:** Section 33(2) of the IBC is interpreted to mean that if the COC concludes that

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**Application:** In this case, the COC's decision and the expiry of the 180-day period triggered

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## Parties

- **Judges:** BIKKI RAVEENDRA…; Manorama…
- **Appellants:** Nandisn C…
- **Respondents:** New Tech Fittings…; Rajkot Nagrik…

## Timeline

- **2017-10-27 — COC Meet…**: The Committee of Creditors (COC) in its third meeting resolved that it was not possible…
- **2017-12-18 — Order Da…**: The Adjudicating Authority passed an order for the liquidation of New Tech Fittings Pvt…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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