# In the matter of TSN Ecotech International Private Limited MA-6-IB-2019 in CP-302-IB-CB-2018

> NCLT judgment dated 2019-03-07. Citation: TCN-2019-NCLT-04553. The application was filed under Section 33(1) of the Insolvency & Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 7 Mar 2019
- **Citation:** TCN-2019-NCLT-04553
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tsn-ecotech-international-private-limited-ma-6-ib-2019-in-cp-302-ib-cb-2018-9b1e718a

## Summary

### Background

The application was filed under Section 33(1) of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of the Company. The documents provided by the Corporate Debtor were insufficient to aid in the preparation of the Information Memorandum or to assist in the verification of claims submitted by the creditors. The Committee of Creditors (CoC) passed a resolution on 14.12.2018 proposing the liquidation of the Corporate Debtor.

## Facts

An application was filed under Section 33(1) of the Insolvency & Bankruptcy Code, 2016, seeking liquidation of M/s. TSN Ecotech International Private Limited. The Corporate Debtor's documents were insufficient for preparing the Information Memorandum or verifying creditor claims. The Committee of Creditors (CoC) unanimously passed a resolution on 14.12.2018 for liquidation due to the lack of sufficient data. The Admission Order was passed on 22.06.2008. The RP requested exemption from appointing two valuers as required by Regulation 35 of the IBBI (Liquidation Process) Regulations, 2016. The Adjudicating Authority deemed it fit to order liquidation and rejected the prayer for exemption from appointing two valuers.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should order the liquidation of the Corporate Debtor based on …

**Ratio:** Section 33(1)(a) of the I&B Code, 2016, confers powers on the Adjudicating Authority

…

**Reasoning:** The Adjudicating Authority considered the application filed by the RP, the resolution

…

**Interpretation:** Section 33(1)(a) allows the Adjudicating Authority to order liquidation when

…

**Application:** Based on the facts presented, the Adjudicating Authority deemed it fit to order

…

## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Ashok Kumar…
- **Respondents:** M/s. TSN Ecotech…

## Timeline

- **2008-06-22 — Admission…**: Admission Order was…
- **2018-12-14 — CoC Meet…**: The 3rd meeting of Creditors was held, and a resolution for Liquidation of the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

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/tsn-ecotech-international-private-limited-ma-6-ib-2019-in-cp-302-ib-cb-2018-9b1e718a