# In the matter of Ansh Energy Solutions Pvt. Ltd.

> NCLT judgment dated 2023-12-14. Citation: TCN-2023-NCLT-00228. The application IA No.27/2023 was filed by the Resolution Professional (RP) of the Corporate…

- **Court:** NCLT
- **Order date:** 14 Dec 2023
- **Citation:** TCN-2023-NCLT-00228
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ansh-energy-solutions-pvt-ltd-02e98e21

## Summary

### Background

The application IA No.27/2023 was filed by the Resolution Professional (RP) of the Corporate Debtor seeking directions for initiating liquidation proceedings. The CIRP was initiated based on an application under Section 9 of the Code, and Vimal Kumar was appointed as the Interim Resolution Professional (IRP). The IRP was later confirmed as RP. Several applications were filed for exclusion of time from the CIRP period due to various reasons, including the COVID-19 pandemic and lack of funds. Public announcement inviting expression of interest for resolution plan was made, and two EOIs were received. The RP also filed three avoidance applications. The extended period of Ninety (90) days expired on 19.11.2022, and since there was scarcity of time to process the Proposed

…

## Facts

An application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) for Ansh Energy Solutions Pvt. Ltd. Vimal Kumar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several applications were filed seeking exclusion of time from the CIRP period due to the COVID-19 pandemic and lack of funds. Public announcements were made to invite resolution plans, and two expressions of interest (EOIs) were received, but both prospective resolution applicants (PRAs) withdrew their EOIs. The RP also filed three avoidance applications. The Committee of Creditors (CoC) did not take a decision on liquidation. The maximum

…

## Issues and analysis

### Issue 1: Whether the liquidation process should be initiated given the expiry of the mandatory CIRP period …

**Ratio:** Section 12 of the Insolvency and Bankruptcy Code, 2016, prescribes a maximum period of

…

**Reasoning:** The court reasoned that the mandatory period of 330 days had already expired, and no

…

**Interpretation:** The interpretation of Section 12 emphasizes the importance of adhering to the

…

**Application:** In this case, the CIRP period had expired, and no resolution plan was received.

…

## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Vimal K…
- **Respondents:** Ansh Energy…; Members of…
- **Advocates:** Siddharth S…; Sharique…

## Timeline

- **2021-01-21 — Application A…**: Application under Section 9…
- **2021-02-18 — First COC M…**: IRP confirmed to be…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ansh-energy-solutions-pvt-ltd-02e98e21