# 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-01945. The case involves an application (IA 1221/2020) filed before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 14 Feb 2020
- **Citation:** TCN-2020-NCLT-01945
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/om-pizzas-and-eats-india-pvt-ltd-ib-89nd2018-72fa4b36

## Summary

### Background

The case involves an application (IA 1221/2020) filed before the National Company Law Tribunal (NCLT), New Delhi Bench, seeking directions for liquidating the assets of the Corporate Debtor, Gozoop Online Pvt. Ltd. The application is based on a resolution passed by the Committee of Creditors (COC), which was approved by 72.04% of the voting share, resolving that the Corporate Debtor's assets be liquidated. The resolution plan was previously rejected by the Bench, with directions to proceed towards liquidation vide order dated January 3, 2020.

## Facts

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

## Issues and analysis

### Issue 1: Whether the application for liquidating the assets of the Corporate Debtor should be approved based …

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

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**Reasoning:** The court considered the resolution passed by the COC, which was duly approved by 72.04%

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**Interpretation:** The legal issue revolves around the interpretation of the Insolvency and

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**Application:** In this specific case, the COC's decision to liquidate the Corporate Debtor's

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## Parties

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

## Timeline

- **2020-01-03 — Order for Liq…**: Bench directed to proceed towards…
- **2020-02-14 — Hearing…**: Hearing before New Delhi Bench of the…

## 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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