# In the matter of OM Pizzas and Eats India Pvt. Ltd. (IB)-89(ND)2018

> NCLT judgment dated 2020-02-14. Citation: TCN-2020-NCLT-01953. IA 1221/2020 was filed seeking directions for liquidating the assets of the Corporate Debtor.…

- **Court:** NCLT
- **Order date:** 14 Feb 2020
- **Citation:** TCN-2020-NCLT-01953
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/om-pizzas-and-eats-india-pvt-ltd-ib-89nd2018-167d74c7

## Summary

### Background

IA 1221/2020 was filed seeking directions for liquidating the assets of the Corporate Debtor. The application notes the resolution passed by the COC, approved by 72.04% of the voting share, resolving to liquidate the Corporate Debtor's assets. The resolution plan was previously rejected, and the Bench directed liquidation in an order dated January 3, 2020.

## Facts

Gozoop Online Pvt. Ltd. is involved in a case before the NCLT, New Delhi Bench. An application, IA 1221/2020, was filed seeking directions for liquidating the assets of the Corporate Debtor. The COC passed a resolution, approved by 72.04% of the voting share, to liquidate the Corporate Debtor's assets. A previous resolution plan was rejected, and the Bench had directed liquidation in an order dated January 3, 2020. The RP consented to continue as the Liquidator. CA 571/2018 was disposed of, allowing the prayer of the RP for setting aside the claim of the related party/non-applicant no. 4 as being preferential and fraudulent. Mr. Hari Babu was appointed as the Liquidator.

## Issues and analysis

### Issue 1: Whether the assets of the Corporate Debtor should be liquidated as per the resolution passed by the …

**Ratio:** The resolution passed by the COC, duly approved by 72.04% in terms of the voting share,

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**Reasoning:** The court considered the COC's resolution and the previous rejection of the resolution

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**Interpretation:** The COC's decision, when supported by the required majority, carries

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**Application:** Given the COC's resolution and the prior rejection of the resolution plan, the

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## Parties

- **Judges:** Ina Mal…
- **Appellants:** Gozoop Online…
- **Respondents:** OM Pizzas and…

## Timeline

- **2020-01-03 — Liquidation…**: The Bench issued directions to…
- **2020-02-14 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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