# In the matter of Amazon Enterprises Private Limited

> NCLT judgment dated 2024-06-26. Citation: TCN-2024-NCLT-01118. The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s.…

- **Court:** NCLT
- **Order date:** 26 Jun 2024
- **Citation:** TCN-2024-NCLT-01118
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/amazon-enterprises-private-limited-0b3d7284

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Amazon Enterprises Private Limited. The CIRP was initiated vide order dated 29.10.2018. Subsequently, an application for liquidation was filed and approved on 14.06.2019. Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator took steps to manage the liquidation process, including filing a list of stakeholders, submitting preliminary reports, and attempting to sell the assets of the Corporate Debtor. Several issues arose regarding the assets, including disputes over property ownership and the realization of assets. The Liquidator sought permission to assign not readily realisable assets to the sole financial creditor, Union Bank of India.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Amazon Enterprises Private Limited on 29.10.2018. An application for liquidation was approved on 14.06.2019, and Mr. Nethi Mallikarjuna Setty was appointed as the Liquidator. The Liquidator filed a list of stakeholders and submitted preliminary reports. Attempts to sell the Corporate Debtor's assets, including land and machinery, were largely unsuccessful, with some assets being sold as scrap. Disputes arose regarding the ownership of certain properties, including land admeasuring 28.694 guntas and another property admeasuring 1000 sq. yards. IA No.213 of 2019 was filed to set aside certain sale transactions, and this application was allowed on 13.10.2023, cancelling the Sale Deed dated

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## Issues and analysis

### Issue 1: Whether the liquidation process of M/s. Amazon Enterprises Private Limited was completed as per the …

**Ratio:** Section 54 of the Insolvency and Bankruptcy Code (IBC), 2016, provides for the

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**Reasoning:** The court relied on the submissions of the Liquidator, the Compliance Certificate, and

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**Interpretation:** The interpretation of Section 54 of the IBC and Regulation 45(3)(b) of the IBBI

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**Application:** In this case, the Liquidator had taken all necessary steps, including

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Sai Vijaya Raghav…
- **Respondents:** Amazon Enterprises…; Amazon Enterprises…
- **Advocates:** Mr.M.Vis…

## Timeline

- **2018-10-29 — CIRP Init…**: The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Amazon…
- **2019-06-14 — Liquidation…**: An Interim Application for liquidation of the Corporate Debtor was filed and vide Order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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