# In the matter of Aditya Prints Private Limited

> NCLT judgment dated 2023-07-20. Citation: TCN-2023-NCLT-02406. The case pertains to an application filed by Mr. Gordhan Ratnabhai Godhani, the Interim…

- **Court:** NCLT
- **Order date:** 20 Jul 2023
- **Citation:** TCN-2023-NCLT-02406
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aditya-prints-private-limited-0da98652

## Summary

### Background

The case pertains to an application filed by Mr. Gordhan Ratnabhai Godhani, the Interim Resolution Professional (IRP) of Aditya Prints Private Limited, under Section 33 read with Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor, Aditya Prints Private Limited, and the appointment of Mr. Sunil Kumar Kabra as the liquidator. The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) on 2022-05-10, based on an application filed by the Financial Creditor, Vidhata Machineries Private Limited.

## Facts

Aditya Prints Private Limited was admitted into CIRP on 2022-05-10 following an application by Vidhata Machineries Private Limited, a financial creditor. Mr. Gordhan Ratnabhai Godhani was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement and constituted a Committee of Creditors (CoC). The CoC comprised State Bank of India (93.48% voting share) and Vidhata Machinery Private Limited (6.52% voting share). The CoC resolved to liquidate the Corporate Debtor in a meeting held on 2022-07-19 because the Corporate Debtor was not in operation since 2016 and had no assets except plant and machinery which was not in an operational state. The resolution for liquidation was passed with 93.48% voting. The applicant verified claims, appointed

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Aditya Prints Private Limited, …

**Ratio:** Section 33(2) of the Insolvency & Bankruptcy Code, 2016 allows the Adjudicating

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**Reasoning:** The CoC, with 93.48% voting share, passed a resolution for liquidation of the Corporate

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**Interpretation:** Section 33(2) provides the legal basis for the Adjudicating Authority to

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**Application:** The CoC's decision to liquidate Aditya Prints Private Limited, supported by the

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## Parties

- **Judges:** SHAMMI…; AJAI DAD ME…
- **Appellants:** Gordhan Ratnabhai…
- **Respondents:** Aditya Prints…; Committee of…

## Timeline

- **2022-05-10 — Admission in…**: Aditya Prints Private Limited was admitted into the Corporate Insolvency Resolution…
- **2022-05-14 — Public Annou…**: The IRP made a public announcement inviting claims from creditors, published in…

## 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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