# In the matter of Vedika Nut Crafts Pvt. Ltd. (IB)-40(PB)-2017

> NCLT judgment dated 2019-04-25. Citation: TCN-2019-NCLT-03703. The case pertains to Vedika Nut Crafts Pvt. Ltd. under liquidation as per Section 10 of the…

- **Court:** NCLT
- **Order date:** 25 Apr 2019
- **Citation:** TCN-2019-NCLT-03703
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vedika-nut-crafts-pvt-ltd-ib-40pb-2017-936d1793

## Summary

### Background

The case pertains to Vedika Nut Crafts Pvt. Ltd. under liquidation as per Section 10 of the IBC. The liquidator raised issues regarding unpaid expenses and fees for the liquidation process. The Committee of Creditors (CoC) had recommended an application under Section 33, which was accepted by the court on 04.04.2018.

## Facts

Vedika Nut Crafts Pvt. Ltd. is undergoing liquidation under Section 10 of the IBC. The liquidator, Mr. Shashi Kant Nemani, raised concerns about unpaid expenses and fees. The CoC had previously recommended an application under Section 33, which was accepted by the court on 04.04.2018. The CoC is allegedly delaying payments to the liquidator, including a fee estimated at Rs. 14,00,000/-. The liquidator also noted that form INC-28 was not signed by Mr. Anurag Garg, Ex-Promoter. Mr. Kalia, counsel for Mr. Anurag Garg, stated that he would appear before the liquidator.

## Issues and analysis

### Issue 1: Whether the CoC is justified in delaying the …

**Ratio:** The CoC has a responsibility to ensure the smooth functioning of the liquidation process,

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**Reasoning:** The court found the CoC's delay unwarranted, as it hindered the liquidator's ability to

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**Interpretation:** The IBC and its regulations mandate that the CoC must facilitate the

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**Application:** The court applied this principle by directing the CoC to immediately pay Rs.

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Respondents:** Vedika Nut Crafts…

## Timeline

- **2018-04-04 — Previous…**: The court accepted an application under Section…
- **N/A — INC-28 I…**: Form INC-28 was not signed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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