# In the matter of Rain Automotive India Pvt. Ltd. (IB)-1095(ND)-2019

> NCLT judgment dated 2020-01-02. Citation: TCN-2020-NCLT-02568. The case pertains to CA 1623/2019 filed under Section 33(2) of the IBC Code. The resolution to…

- **Court:** NCLT
- **Order date:** 2 Jan 2020
- **Citation:** TCN-2020-NCLT-02568
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rain-automotive-india-pvt-ltd-ib-1095nd-2019-742d704a

## Summary

### Background

The case pertains to CA 1623/2019 filed under Section 33(2) of the IBC Code. The resolution to move for liquidation was taken in a meeting on October 19, 2019, and was approved by Ford Credit, holding more than 90% of the voting power. Ford Credit Private Limited, a major Financial Creditor, has not finalized the name of any Liquidator and leaves the appointment to the discretion of the Bench.

## Facts

A resolution to move for liquidation was taken on October 19, 2019, and approved by Ford Credit, which holds over 90% of the voting power. Ford Credit Private Limited, a major Financial Creditor, has not finalized the name of any Liquidator. CA 1623/2019 was filed under Section 33(2) of the IBC Code. CA 1094/2019 has been addressed and become infructuous. CA 1095/2019 has been filed against the Ex-Directors for non-cooperation, and NBW have been issued against Mr. Girish Bhatia and Mr. Manish Jain.

## Issues and analysis

### Issue 1: Whether a liquidator should be appointed given the resolution for liquidation and the financial …

**Ratio:** The court has the power to appoint a liquidator when a resolution for liquidation has

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**Reasoning:** The court reasoned that since the resolution for liquidation was approved and the major

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**Interpretation:** This interprets the IBC Code to allow the court to step in and appoint a

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**Application:** The court applied this principle by appointing Ms. Preeti Jaiswal as the

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Appellants:** Ford Credit India…
- **Respondents:** Automotive India…

## Timeline

- **2019-10-19 — Resolution for…**: Resolution to move for…
- **2020-01-02 — Hearing…**: Hearing before the National Company…

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