# In the matter of Sixth Dimension Project Solution Ltd. M. A. No. 3817 of 2019 In C.P. No. 587-IB-2018

> NCLT judgment dated 2021-03-01. Citation: TCN-2021-NCLT-02895. The case involves an application filed by the Resolution Professional seeking liquidation of…

- **Court:** NCLT
- **Order date:** 1 Mar 2021
- **Citation:** TCN-2021-NCLT-02895
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sixth-dimension-project-solution-ltd-m-a-no-3817-of-2019-in-cp-no-587-ib-2018-a72101ff

## Summary

### Background

The case involves an application filed by the Resolution Professional seeking liquidation of Sixth Dimension Project Solutions Ltd. The application was based on the ground that no resolution plan was received. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by the Operational Creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC). An Interim Resolution Professional (IRP) was appointed, followed by a Resolution Professional (RP). The Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as RP, but the application for approval was initially dismissed. The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. Despite efforts, the resolution plan received was not acceptable to the

…

## Facts

Ms. Rama Subramanian, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Sixth Dimension Project Solution Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. S. Gopalakrishnan was initially appointed as the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors (CoC) decided to appoint Mr. Santanu T. Ray as the Resolution Professional (RP). The NCLAT later appointed Mr. Santanu T. Ray as RP and extended the CIRP period. A public announcement of the CIRP initiation was made on 2018-10-14. An invitation for Expression of Interest (EoI) was published on 2019-09-26. Only one resolution plan was received from M/s. Arth Rural Connect Services Pvt. Ltd. and Cornerstone Interiors LLC (Jointly),

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Sixth Dimension Project Solution …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, allows for the initiation of

…

**Reasoning:** The court reasoned that since no acceptable resolution plan was received, and the CoC,

…

**Interpretation:** Section 33(1) provides a clear pathway for liquidation when CIRP fails to

…

**Application:** In this case, the absence of an acceptable resolution plan, coupled with the

…

## Parties

- **Judges:** H.V. Subb…; Shyam Babu…
- **Appellants:** Santanu T…
- **Respondents:** Sixth Dimension…; Rama Subra…

## Timeline

- **2018-10-09 — CIRP Init…**: Adjudicating Authority directed initiation of CIRP against Sixth Dimension Project…
- **2018-10-14 — Public Annou…**: Public announcement of CIRP initiation in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

---

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/sixth-dimension-project-solution-ltd-m-a-no-3817-of-2019-in-cp-no-587-ib-2018-a72101ff