# In the matter of Radius Infratel Private Limited IA-975-2019 In (IB)-59(PB)-2018

> NCLT judgment dated 2021-05-31. Citation: TCN-2021-NCLT-02063. The case pertains to an application filed under Section 33(1) and 33(2) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 31 May 2021
- **Citation:** TCN-2021-NCLT-02063
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/radius-infratel-private-limited-ia-975-2019-in-ib-59pb-2018-abbef0dc

## Summary

### Background

The case pertains to an application filed under Section 33(1) and 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking a liquidation order for Radius Infratel Private Limited. The Committee of Creditors (CoC), consisting solely of Union Bank of India, resolved to liquidate the corporate debtor after a resolution plan was found unsatisfactory. The CoC's decision was made during its tenth meeting held on May 3, 2019. The Resolution Professional (RP) was directed to file an application before the National Company Law Tribunal (NCLT) for the liquidation of the corporate debtor.

## Facts

Union Bank of India initiated corporate insolvency resolution process (CIRP) against Radius Infratel Private Limited. The application under Section 33(1) and 33(2) of the IBC, 2016 was filed. The CIRP was admitted on July 23, 2018. The applicant was appointed as Interim Resolution Professional (IRP) and invited claims from the creditors, constituting a Committee of Creditors (CoC) consisting only of Union Bank of India. The IRP was later appointed as Resolution Professional (RP). During the CIRP, various options, including a One Time Settlement, were explored but rejected by Union Bank of India. An invitation for Expression of Interest (EoI) was issued, and only one resolution plan was received, which was deemed unsatisfactory by the CoC. The RP issued a second

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Radius Infratel Private Limited, …

**Ratio:** The legal principle applied is that the Adjudicating Authority (NCLT) has the power to

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**Reasoning:** The NCLT reasoned that the CoC, consisting of Union Bank of India, unanimously voted for

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**Interpretation:** The interpretation of the IBC, 2016, is that the CoC has the primary authority

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**Application:** In this specific case, the CoC, being Union Bank of India, unanimously voted

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## Parties

- **Judges:** B.S.V. Prakash…; HEMANT KUMAR…
- **Appellants:** ARVIND…
- **Respondents:** Radius Infratel…; Union Bank of…

## Timeline

- **2018-07-23 — CIRP Admi…**: The Corporate Insolvency…
- **2018-07-23 — Appointment…**: The Applicant was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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