# In the matter of World Consulting & Research Corpn. Pvt. Ltd. CP no. 1081-2016

> NCLT judgment dated 2018-10-22. Citation: TCN-2018-NCLT-00528. The Resolution Professional (RP) filed an application seeking permission to auction and sell a…

- **Court:** NCLT
- **Order date:** 22 Oct 2018
- **Citation:** TCN-2018-NCLT-00528
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/world-consulting-research-corpn-pvt-ltd-cp-no-1081-2016-713350c5

## Summary

### Background

The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car. The NCLT notes that such a direction cannot be given without the recommendation of the Committee of Creditors (CoC). The NCLT also notes that in previous orders (CA No. 96(PB)/2018 and 271(PB)/2018), it had directed the RP to surrender possession of the car to HDFC Bank.

## Facts

The Resolution Professional (RP) filed an application seeking permission to auction and sell a Mercedes BENZ S320 CDIL car with Registration No. HR 70C 5546. The NCLT observed that such a direction cannot be sought by the RP without the recommendation of the CoC. The NCLT had previously directed the RP to surrender the possession of the car to HDFC Bank in orders CA No. 96(PB)/2018 and 271(PB)/2018. The counsel for HDFC Bank stated that the car is hypothecated to ICICI Bank. The car appears to be the only asset of the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the Resolution Professional can be granted permission to auction and sell the Mercedes BENZ …

**Ratio:** A Resolution Professional cannot seek permission to auction an asset without the

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**Reasoning:** The NCLT stated that it cannot grant permission to auction the car without the CoC's

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**Interpretation:** This highlights the importance of the CoC's role in the resolution process. The

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**Application:** The RP's application was not granted because it lacked the CoC's

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## Parties

- **Judges:** M. M. K…; DEEPTI M…
- **Appellants:** Tathagata…
- **Respondents:** World Consulting…

## Timeline

- **2018-05-18 — Previous…**: NCLT disposed of CA No. 96(PB)/2018 and 271(PB)/2018, directing the Resolution…
- **2018-10-22 — Order Del…**: The NCLT disposed of CA-1075(PB)/2018, reiterating its previous directions and directing…

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