# In the matter of Shri Veerganapathi Steels Pvt. Ltd. MA-657-2019 in CP-229-IB-2018

> NCLT judgment dated 2019-07-22. Citation: TCN-2019-NCLT-02369. The case involves an application (MA/657/2019) in a corporate insolvency resolution process…

- **Court:** NCLT
- **Order date:** 22 Jul 2019
- **Citation:** TCN-2019-NCLT-02369
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shri-veerganapathi-steels-pvt-ltd-ma-657-2019-in-cp-229-ib-2018-5f358c68

## Summary

### Background

The case involves an application (MA/657/2019) in a corporate insolvency resolution process (CP/229/IB/2018) concerning Shri Veeraganapathi Steels Pvt Ltd, where Kavitha Surana is the liquidator. The respondents are Narayan Maheswari and others. The counsel for respondents R1 and R2 filed an affidavit stating they are ready to hand over the property mentioned in the application. However, there are some personal belongings of the respondents on the property.

## Facts

Kavitha Surana, the liquidator for Shri Veeraganapathi Steels Pvt Ltd, filed an application (MA/657/2019) in the corporate insolvency resolution process (CP/229/IB/2018). The respondents, Narayan Maheswari and others, through their counsel, filed an affidavit stating their readiness to hand over the property mentioned in the application. However, the property contains personal belongings of the respondents. The court found it necessary to appoint an Advocate Commissioner to prepare an inventory of the property, including the personal belongings and the immovable assets of the company under liquidation. Mr. Rohan Rajasekaran was appointed as the Advocate Commissioner. The liquidator is required to pay Rs. 30,000 as remuneration to the Advocate Commissioner.

## Issues and analysis

### Issue 1: Whether an Advocate Commissioner should be appointed to prepare an inventory of the property and …

**Ratio:** The court has the power to appoint an Advocate Commissioner to facilitate the liquidation

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**Reasoning:** The court reasoned that the presence of personal belongings of the respondents on the

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**Interpretation:** This involves interpreting the powers of the court under the Insolvency and

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**Application:** The court applied this principle by appointing Mr. Rohan Rajasekaran as the

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** KAVITHA SURANA…
- **Respondents:** VEERAGANAPATHI…; NARAYAN MAH…

## Timeline

- **2018-07-24 — Hearing…**: Hearing of Chennai Bench, Chennai National…
- **2019-08-19 — Next Hearin…**: Case put up for next…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60 — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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