# In the matter of Uttung Health & Wellness Pvt. Ltd. MA 1371-2019 in CP (IB)-1427-2017

> NCLT judgment dated 23 Sept 2019. Citation: TCN-2019-NCLT-01319. This case involves a Miscellaneous Application (MA 1371/2019) filed by the Resolution…

- **Court:** NCLT
- **Order date:** 23 Sept 2019
- **Citation:** TCN-2019-NCLT-01319
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/uttung-health-wellness-pvt-ltd-ma-1371-2019-in-cp-ib-1427-2017-ad338b88

## Summary

### Background

This case involves a Miscellaneous Application (MA 1371/2019) filed by the Resolution Professional, Mr. Bhupendra Singh Rajput, under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the liquidation process against the Corporate Debtor, M/s. Uttung Health & Wellness Pvt. Ltd. The initial petition under Section 7 of the IBC was admitted on April 20, 2018, due to a financial debt default of Rs. 1.90 Crore (principal amount) with interest, totaling Rs. 3,96,07,727/-. Mr. Bhupendra Singh Rajput was appointed as the Interim Resolution Professional (IRP) to conduct the Corporate Insolvency Resolution Process (CIRP).

## Facts

This Miscellaneous Application (MA 1371/2019) was filed on April 9, 2019, by the Resolution Professional, Mr. Bhupendra Singh Rajput, under section 33 of the Code. The purpose of the application was to initiate the liquidation process against the Corporate Debtor, M/s. Uttung Health & Wellness Pvt. Ltd. The application also sought an order for the appointment of Mr. Reddy as the Liquidator of the corporate debtor.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Uttung Health & Wellness Pvt. Ltd., should be put into…

**Ratio:** When the Corporate Insolvency Resolution Process fails to yield a resolution plan and the…

**Reasoning:** The court reasoned that despite efforts during the Corporate Insolvency Resolution…

**Interpretation:** The court interpreted **Section 33** of the IBC to mean that if the CIRP is…

**Application:** Given that no expression of interest was received and no resolution plan was…

## Parties

- **Judges:** M.K. Sh…; Chandra Bha…
- **Advocates:** For the Petitioner…; Bhupendra Singh…; +1 more

## Timeline

- **April 20, 2018 — Petition Ad…**: Petition under Section 7 of The Code against M/s. Uttung Health & Wellness Pvt. Ltd. was…
- **May 26, 2018 — Public Annou…**: Public Announcement was made as per Regulation 6 of the Insolvency Process for Corporate…

## Legal provisions

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

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