# In the matter of Vasan Construction Company Pvt. Ltd. MA-85-2020 in CP-1398-IB-2018

> NCLT judgment dated 2021-11-12. Citation: TCN-2021-NCLT-00526. The application was filed seeking an order for the liquidation of the Corporate Debtor. A…

- **Court:** NCLT
- **Order date:** 12 Nov 2021
- **Citation:** TCN-2021-NCLT-00526
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vasan-construction-company-pvt-ltd-ma-85-2020-in-cp-1398-ib-2018-1ad0cdba

## Summary

### Background

The application was filed seeking an order for the liquidation of the Corporate Debtor. A liquidation order was passed by the Adjudicating Authority on 2020-12-21. Subsequently, Ms. Jayasree was appointed as the Liquidator after confirmation by the IBBI.

## Facts

An application was filed seeking an order for the liquidation of a Corporate Debtor. The Adjudicating Authority had already passed a liquidation order on 2020-12-21. The IBBI confirmed the appointment of Ms. Jayasree as the Liquidator. Mr. Rohan Rajasekaran, Advocate, appeared for the Applicant through video conferencing. The application MA/85/2020 was closed.

## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Liquidation orders are granted when the corporate debtor is unable to meet its financial

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**Reasoning:** The Adjudicating Authority had already passed a liquidation order on 2020-12-21,

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**Interpretation:** The legal interpretation is that if a corporate debtor is unable to meet its

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**Application:** Since the Adjudicating Authority already passed the liquidation order, the

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## Parties

- **Judges:** R. Sucha…; SAMEER…
- **Appellants:** A R Ramasubramania…
- **Respondents:** Vasan Construction…

## Timeline

- **2020-12-21 — Liquidation Ord…**: The Adjudicating Authority passed a…
- **N/A — Liquidator Ap…**: Ms. Jayasree was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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