# In the matter of Southern Investments Pvt. Ltd. MA-637-2018 in CP-202-IB-2018

> NCLT judgment dated 2019-04-26. Citation: TCN-2019-NCLT-03664. The case involves an application (MA/637/2018) in relation to a corporate insolvency resolution…

- **Court:** NCLT
- **Order date:** 26 Apr 2019
- **Citation:** TCN-2019-NCLT-03664
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/southern-investments-pvt-ltd-ma-637-2018-in-cp-202-ib-2018-60cf6c31

## Summary

### Background

The case involves an application (MA/637/2018) in relation to a corporate insolvency resolution process (CP/202/IB/2017). The Resolution Professional (Chitra Srinivas) is present. The respondent has paid the remuneration.

## Facts

The Resolution Professional, Chitra Srinivas, submitted to the court that the respondent, Southern Investments Pvt Ltd, had paid the remuneration due. Based on this submission, the Resolution Professional requested the court to close the application (MA/637/2018) which was related to the corporate insolvency resolution process (CP/202/IB/2017). The court then closed the application.

## Issues and analysis

### Issue 1: Whether the application should be closed given the Resolution Professional's submission that the …

**Ratio:** When the Resolution Professional confirms that the remuneration has been paid by the

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**Reasoning:** The court accepted the submission of the Resolution Professional that the respondent had

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**Interpretation:** This case highlights the court's willingness to close an application when the

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**Application:** In this specific case, the Resolution Professional's confirmation of payment by

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Appellants:** Chitra Srinivas(RP…
- **Respondents:** Southern Investmen…

## Timeline

- **2019-04-26 — Hearing…**: Hearing held at 10:30 AM at the National…

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