# In the matter of scope Vincom Industries (P) Ltd

> NCLT judgment dated 2018-12-20. Citation: TCN-2018-NCLT-00029. The case pertains to an application filed by Govind Jagirdar, the sole proprietor of Melgiri…

- **Court:** NCLT
- **Order date:** 20 Dec 2018
- **Citation:** TCN-2018-NCLT-00029
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/scope-vincom-industries-p-ltd-625808a4

## Summary

### Background

The case pertains to an application filed by Govind Jagirdar, the sole proprietor of Melgiri Enterprises (Operational Creditor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Scope Vincom Industries Private Limited (Corporate Debtor). The application was filed due to the Corporate Debtor's failure to pay a debt of Rs. 12,65,652/-. The CIRP was initiated, and an Interim Resolution Professional (IRP) was appointed. Public announcement was made, and creditors were called upon to submit their claims. The IRP formed a Committee of Creditors (CoC).

## Facts

Govind Jagirdar, operating as Melgiri Enterprises, initiated CIRP against Scope Vincom Industries Private Limited due to unpaid debt of Rs. 12,65,652. The NCLT admitted the application on 2018-06-11 and started CIRP, appointing Niraj Agrawal as IRP. The IRP made a public announcement and received claims from HDFC Bank, L&T Finance Limited, Reliance Commercial Finance Ltd., and Krishna Enterprises. The CoC replaced the IRP with Yogesh Gupta as RP. The RP did not prepare an information memorandum or call for EOI, despite the Corporate Debtor having significant assets. The CoC did not extend the CIRP or initiate liquidation. The RP filed an application for non-cooperation, which was defective. The CIRP period expired on 2018-12-07. The NCLT then ordered liquidation of

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## Issues and analysis

### Issue 1: Whether the Resolution Professional and Committee of Creditors properly discharged their duties and …

**Ratio:** The Resolution Professional and Committee of Creditors have a statutory obligation to

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**Reasoning:** The court found that the RP failed to prepare an information memorandum, call for EOI, or

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**Interpretation:** The I&B Code mandates specific duties for the RP and CoC to ensure a fair

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**Application:** In this case, the RP's failure to prepare the information memorandum and the

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## Parties

- **Judges:** Madan B.…
- **Appellants:** Govind Ja…
- **Respondents:** Scope Vincom…

## Timeline

- **2016-01-01 — Enactment of Insolvency…**: The Insolvency and…
- **2017-01-01 — CP (IB) No. 56…**: Case filed under CP…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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