# 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-00417. The case pertains to the insolvency resolution process of Tecpro Infra-Projects Limited. The…

- **Court:** NCLT
- **Order date:** 25 Nov 2021
- **Citation:** TCN-2021-NCLT-00417
- **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-e0a9d16d

## Summary

### Background

The case pertains to the insolvency resolution process of Tecpro Infra-Projects Limited. The CIRP was initiated on 2019-09-27 and extended. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor on 2020-08-27 because no resolution plan was accepted. The applicant produced voting sheets and minutes of the CoC meeting dated 2020-08-27. The resolution for liquidation was approved by 66.77% of the voting share. The State Bank of India did not participate in the E-voting but gave consent to liquidate.

## Facts

The Corporate Debtor, Tecpro Infra-Projects Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2019-09-27, which was later extended. The Committee of Creditors (CoC) resolved on 2020-08-27 to liquidate the Corporate Debtor due to the absence of an accepted resolution plan. The resolution for liquidation was approved by 66.77% of the voting share. State Bank of India, although not participating in the E-voting, consented to the liquidation. The Resolution Professional (RP), CS Satyadevi Alamuri, also consented to act as liquidator. The Adjudicating Authority considered Section 33 of the IBC, 2016, regarding the initiation of liquidation. The CIRP period, even after excluding lockdown periods and extensions, had ended on 2020-08-30. The

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## 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 states that where the Adjudicating Authority does not

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

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**Interpretation:** Section 33(1)(a) of the IBC, 2016 mandates liquidation if no compliant

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**Application:** Since the resolution plan was incomplete and non-compliant, and the CoC

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## Parties

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

## Timeline

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

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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