# In the matter of Royal Pressing and Components Private Limited CA no. 311-ND-2019 in Company Petition No. (IB)-274-ND-2018

> NCLT judgment dated 2020-02-13. Citation: TCN-2020-NCLT-01977. The case involves an application filed by the Resolution Professional (RP) under Section 33(1)…

- **Court:** NCLT
- **Order date:** 13 Feb 2020
- **Citation:** TCN-2020-NCLT-01977
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/royal-pressing-and-components-private-limited-ca-no-311-nd-2019-in-company-petit-1255a822

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) under Section 33(1) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking directions for the liquidation of the corporate debtor, M/S Royal Pressing and Components Private Limited. The operational creditor, M/S Ashutosh Steels Private Limited, had initially filed an application under Section 9 of the IBC for initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, which was admitted on 2019-03-15. Mr. Shashi Sharma was appointed as the Interim Resolution Professional (IRP).

## Facts

M/S Ashutosh Steels Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Royal Pressing and Components Private Limited, the corporate debtor. The application was admitted on 2019-03-15, and Mr. Shashi Sharma was appointed as the Interim Resolution Professional (IRP). Public announcements were made as per regulations. The IRP invited Expression of Interest (EOI) from prospective resolution applicants, but no application was received initially. The COC decided to extend the date and re-advertise the invitation. Two parties submitted EOIs, but one withdrew. Despite issuing information memorandum, evaluation matrix, and

…

## Issues and analysis

### Issue 1: Whether the corporate debtor, M/S Royal Pressing and Components Private Limited, should be …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, stipulates that where the

…

**Reasoning:** The court reasoned that despite the initiation of CIRP, invitation of EOIs, and issuance

…

**Interpretation:** Section 33(1) of the IBC provides a clear directive for liquidation when a

…

**Application:** In this case, the Adjudicating Authority applied Section 33(1) of the IBC to

…

## Parties

- **Judges:** DEEPTI M…; Sh. Hemant Kumar…
- **Appellants:** M/S Ashutosh…
- **Respondents:** M/S Royal…

## Timeline

- **2018-01-01 — Application under…**: M/S Ashutosh Steels Private Limited filed an application under Section 9 of the IBC for…
- **2019-03-15 — Application A…**: The application filed by M/S Ashutosh Steels Private Limited was admitted by the…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/royal-pressing-and-components-private-limited-ca-no-311-nd-2019-in-company-petit-1255a822