# In the matter of RL Logistics Private Limited MA-1069-2019 in CP-1226-IB-2018

> NCLT judgment dated 2019-10-21. Citation: TCN-2019-NCLT-00894. The case involves an application for the issuance of a liquidation order for M/s. R L Logistics…

- **Court:** NCLT
- **Order date:** 21 Oct 2019
- **Citation:** TCN-2019-NCLT-00894
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rl-logistics-private-limited-ma-1069-2019-in-cp-1226-ib-2018-9b3bde31

## Summary

### Background

The case involves an application for the issuance of a liquidation order for M/s. R L Logistics Private Limited under Section 33(1) of the I&B Code, 2016. The Committee of Creditors (CoC) did not pass any resolution for a resolution plan, liquidation, or extension of the CIRP period. The Company Petition was admitted on 27.02.2019, and claims were invited from creditors. The Resolution Professional collated claims, dividing them into financial creditors' claims of ₹7,24,34,969 and operational creditors' claims of ₹16,03,004. The company also owed ₹33,57,638 towards EPF dues. The Resolution Professional constituted a Committee of Creditors.

## Facts

The Corporate Debtor, M/s. R L Logistics Private Limited, underwent CIRP. The Company Petition was admitted on 2019-02-27. Claims were invited from creditors, and the Resolution Professional collated them, with financial creditors' claims amounting to ₹7,24,34,969 and operational creditors' claims to ₹16,03,004. The company also owed ₹33,57,638 towards EPF dues. The Resolution Professional determined the liquidation value as ₹93,36,800 after deducting EPF dues. The CoC approved the Information Memorandum and invited Expressions of Interest, but none came forward initially. Subsequently, two parties expressed interest, but one did not provide a non-disclosure certificate, and the promoter of the Corporate Debtor did not submit a resolution plan or the required EMD of

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## Issues and analysis

### Issue 1: Whether the application for liquidation under Section 33(1) of the I&B Code, 2016 should be …

**Ratio:** Section 33(1) of the I&B Code, 2016 allows for the initiation of liquidation

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**Reasoning:** The CoC failed to approve any resolution plan, extend the CIRP period, or propose

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**Interpretation:** Section 33(1) provides a legal basis for liquidation when the CIRP process

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**Application:** Since the CoC did not approve any resolution plan and the CIRP period had

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## Parties

- **Judges:** B.S.V. Prakash…; B. Anil…
- **Appellants:** Arumugam Ar…; ArumugamAr…
- **Respondents:** M/s. R L Logistics…

## Timeline

- **2019-02-27 — Company Petition…**: The Company Petition…
- **2019-05-14 — CoC Approved Information…**: CoC approved Information Memorandum and…

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