# In the matter of Parerhat Gas Industries Ltd C A No. 17-2018 In CP No.(IB)113-ALD-17

> NCLT judgment dated 2018-08-08. Citation: TCN-2018-NCLT-00977. The case involves proceedings before the Allahabad Bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 8 Aug 2018
- **Citation:** TCN-2018-NCLT-00977
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/parerhat-gas-industries-ltd-c-a-no-17-2018-in-cp-noib113-ald-17-8245e003

## Summary

### Background

The case involves proceedings before the Allahabad Bench of the National Company Law Tribunal (NCLT). The IBBI has proposed the name of Mr. Pawan K. Goel to be considered as a Liquidator for the purpose of liquidation of the Corporate Debtor Company. A liquidation order was previously passed under Section 33(2) of the I&B Code, 2016 on August 2, 2018.

## Facts

The Punjab National Bank initiated proceedings against Parerhat Gas Industries Ltd. The IBBI proposed Mr. Pawan K. Goel as a liquidator following a liquidation order passed under Section 33(2) of the I&B Code, 2016, on August 2, 2018. The erstwhile RP, represented by Sh. Anil Kumar, and the advocate for the Corporate Debtor Company, Sh. P.K. Bajpai, were present. The court heard the learned counsel for both parties and found no objection to the proposed appointment of Mr. Goel. This led to the court's decision to appoint Mr. Goel as the liquidator to take charge of the assets and follow up on actions related to the liquidation.

## Issues and analysis

### Issue 1: Whether Mr. Pawan K. Goel should be appointed as the …

**Ratio:** Section 33(2) of the I&B Code, 2016, provides for the appointment of a liquidator

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**Reasoning:** The court considered the IBBI's proposal and the absence of any objection from either

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**Interpretation:** Section 33(2) of the I&B Code allows the court to appoint a liquidator to

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**Application:** Given the IBBI's proposal and the lack of objections, the court applied Section

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## Parties

- **Judges:** Saroj Ra…; Harihar Prakash…
- **Appellants:** Punjab National…
- **Respondents:** Parerhat Gas…

## Timeline

- **2018-08-02 — Liquidation…**: Liquidation order passed under…
- **2018-08-07 — IBBI Commun…**: IBBI proposed the name of Mr.…

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