# In the matter of Tecpro Infra-Projects Limited (IA-4482-2020) in Company Petition (IB) No. 1721-ND-2019

> NCLT judgment dated 2021-11-25. Citation: TCN-2021-NCLT-00407. The case pertains to a Company Petition (IB) No. 1721/ND/2019 filed under Section 9 of the…

- **Court:** NCLT
- **Order date:** 25 Nov 2021
- **Citation:** TCN-2021-NCLT-00407
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tecpro-infra-projects-limited-ia-4482-2020-in-company-petition-ib-no-1721-nd-201-97a7e9a3

## Summary

### Background

The case pertains to a Company Petition (IB) No. 1721/ND/2019 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking the liquidation of M/s Tecpro Infra-Projects Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-09-27 and extended. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor as no resolution plan was accepted. The applicant produced voting sheets and minutes of the CoC meeting dated 2020-08-27.

## Facts

Mr. E N Saktidharan Menon, an Operational Creditor, filed a Company Petition (IB) No. 1721/ND/2019 against M/s Tecpro Infra-Projects Limited, the Corporate Debtor. The CIRP was initiated on 2019-09-27 and extended. The CoC, in its meeting dated 2020-08-27, resolved to liquidate the Corporate Debtor because no resolution plan was accepted. The E-voting was conducted, and the resolution was approved by 66.77% of the voting share. SBI did not participate in the E-voting but gave consent to liquidate. The RP, CS Satyadevi Alamuri, also gave her consent to act as liquidator. The resolution plan received was incomplete and did not comply with the requirements of IBC, 2016.

## Issues and analysis

### Issue 1: Whether the resolution plan received was incomplete and did not comply with the requirements of …

**Ratio:** Section 33(1)(a) of the IBC, 2016, allows the Adjudicating Authority to initiate

…

**Reasoning:** The Adjudicating Authority observed that the resolution plan received was incomplete and

…

**Interpretation:** Section 33(1)(a) provides a clear legal basis for initiating liquidation when a

…

**Application:** In this case, the resolution plan's incompleteness and non-compliance with IBC,

…

## Parties

- **Judges:** ABNI RANJAN KUMAR…; AVINASH K.…
- **Appellants:** E N Saktidharan…
- **Respondents:** Tecpro Infra-Proje…; M/s Tecpro…

## Timeline

- **2019-09-27 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Tecpro…
- **2020-03-24 — CIRP Exte…**: CIRP was further…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

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/tecpro-infra-projects-limited-ia-4482-2020-in-company-petition-ib-no-1721-nd-201-97a7e9a3