# In the matter of Bahula Infotech Private Limited

> NCLT judgment dated 2023-08-22. Citation: TCN-2023-NCLT-01957. The case involves an application filed under Section 33(1)(a) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 22 Aug 2023
- **Citation:** TCN-2023-NCLT-01957
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bahula-infotech-private-limited-6b2b4773

## Summary

### Background

The case involves an application filed under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking the liquidation of the Corporate Debtor, Bahula Infotech Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on a petition filed by Viom Infra Venture Limited, an Operational Creditor, under Section 9 of the IBC. Mr. Aneel Saraogi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).

## Facts

Viom Infra Venture Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against Bahula Infotech Private Limited. Mr. Aneel Saraogi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Form G was issued to invite Expression of Interest (EOI) for resolution plans, but no EOI was received by the initial deadline. A second attempt to solicit resolution plans also failed, with only Quantta Analytics Private Limited expressing interest but ultimately not submitting a plan. The Committee of Creditors (CoC) decided in its 8th meeting on 02.01.2023 to liquidate the company under

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## Issues and analysis

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

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

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**Reasoning:** The Committee of Creditors (CoC) approved the liquidation of the Corporate Debtor with

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**Interpretation:** Section 33(2) provides a clear directive for the Adjudicating Authority to

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**Application:** In this case, the CoC approved the liquidation with 100% voting share, and the

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## Parties

- **Judges:** RohitKa…; Balraj…
- **Appellants:** Viom Infra…
- **Respondents:** Bahula Infotech…

## Timeline

- **2021-01-01 — CP (IB) No. 19…**: The case was registered as…
- **2022-04-18 — Order for CIRP…**: The Adjudicating Authority ordered the initiation of the Corporate Insolvency Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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