# In the matter of Rajpal Autolink Private Limited CP (IB) No. 43-10-NCLT-AHM-2020

> NCLT judgment dated 2020-06-18. Citation: TCN-2020-NCLT-01145. The case pertains to an application filed by M/s. Rajpal Autolink Private Company Limited under…

- **Court:** NCLT
- **Order date:** 18 Jun 2020
- **Citation:** TCN-2020-NCLT-01145
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rajpal-autolink-private-limited-cp-ib-no-43-10-nclt-ahm-2020-0101015c

## Summary

### Background

The case pertains to an application filed by M/s. Rajpal Autolink Private Company Limited under Section 10 of the Insolvency & Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP). The company claimed to have defaulted on debt payments amounting to Rs. 10,55,05,306/- to various creditors. Notices were served to all creditors and published in newspapers, but no one opposed the admission of the application.

## Facts

M/s. Rajpal Autolink Private Company Limited filed an application under Section 10 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The company claimed a default in debt payment amounting to Rs. 10,55,05,306/- to various creditors. Notices were served to all creditors and published in newspapers. The Corporate Debtor produced 'Annexure –A-5', the full Statement of Account of the Corporate Person, and 'Annexure-A-2', the Special Resolution dated 24.12.2019, passed by two out of three Shareholders and the Directors resolving to file this Application and to start self- Corporate、Insolvency Resolution Process (CIRP) of the Corporate Person. 'Annexure-A-4' is the written consent of the Resolution Professional

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## Issues and analysis

### Issue 1: Whether the Applicant has furnished …

**Ratio:** Section 10 of the Insolvency & Bankruptcy Code, 2016, requires the Adjudicating

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**Reasoning:** The Adjudicating Authority examined the documents submitted by the applicant and found

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**Interpretation:** This ensures transparency and allows the Adjudicating Authority to assess the

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**Application:** The Corporate Debtor produced 'Annexure –A-5', the full Statement of Account of

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Respondents:** Rajpal Autolink…
- **Advocates:** Soumya S…

## Timeline

- **2020-06-18 — Order Da…**: Order pronounced, admitting…
- **2019-12-24 — Special Resolu…**: Special Resolution passed by two out of three Shareholders and the Directors resolving to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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