# In the matter of Rajesh Gems and Jewels Pvt. Ltd. (Vinayak Advertising Vs. Rajesh Gems and Jewels Pvt. Ltd. & Ors.) (IB)-546-(ND)-2017

> NCLT judgment dated 2018-06-08. Citation: TCN-2018-NCLT-01308. The case involves Vinayak Advertising Vs. Rajesh Gems and Jewels Pvt. Ltd. & Ors. The…

- **Court:** NCLT
- **Order date:** 8 Jun 2018
- **Citation:** TCN-2018-NCLT-01308
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rajesh-gems-and-jewels-pvt-ltd-vinayak-advertising-vs-rajesh-gems-and-jewels-pvt-a00b598f

## Summary

### Background

The case involves Vinayak Advertising Vs. Rajesh Gems and Jewels Pvt. Ltd. & Ors. The remuneration of the previous Resolution Professional (RP) had not been paid despite specific directions. The Counsel for the Operational Creditor, being the biggest claimant in the Committee of Creditors (COC), requested a review of the order regarding the RP's remuneration. The expenses of the RP were ratified and confirmed by the COC. Another application was filed by the RP placing on record the request of the COC to go in for liquidation of the Corporate Debtor.

## Facts

Vinayak Advertising filed a case against Rajesh Gems and Jewels Pvt. Ltd. & Ors. The previous Resolution Professional (RP) had not been paid their remuneration despite specific directions. The Operational Creditor, being the largest claimant in the Committee of Creditors (COC), sought a review of the order concerning the RP's remuneration. The COC had ratified and confirmed the RP's expenses. The RP filed another application based on the COC's request to liquidate the Corporate Debtor. However, there was no concrete proposal regarding the assets to be liquidated. The key facts are the non-payment of the RP's remuneration, the COC's ratification of expenses, and the request for liquidation without a concrete proposal.

## Issues and analysis

### Issue 1: Whether the court should review the order regarding …

**Ratio:** A review of an order is only warranted if there are cogent grounds presented before the

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**Reasoning:** The court found that no cogent grounds were presented to justify a review of the order

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**Interpretation:** The legal principle is that a court should not lightly overturn its previous

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**Application:** In this case, since the COC had already ratified the RP's expenses and no new

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## Parties

- **Judges:** DeepaKr…; Ina Mal…
- **Appellants:** Vinayak Advertisin…
- **Respondents:** Rajesh Gems and…

## Timeline

- **2018-06-08 — Hearing…**: Hearing before the New Delhi Bench of…
- **2018-06-11 — Further Consi…**: Case re-notified for further…

## 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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