# In the matter of Bahula Infotech Private Limited

> NCLT judgment dated 2023-08-22. Citation: TCN-2023-NCLT-01970. The application was filed by the Resolution Professional, upon instructions from the Committee…

- **Court:** NCLT
- **Order date:** 22 Aug 2023
- **Citation:** TCN-2023-NCLT-01970
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bahula-infotech-private-limited-abd4c9f5

## Summary

### Background

The application was filed by the Resolution Professional, upon instructions from the Committee of Creditors, seeking liquidation of the Corporate Debtor due to the absence of any resolution plan.

## Facts

The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) against Bahula Infotech Private Limited, the Corporate Debtor, on April 18, 2022, following a petition filed by Viom Infra Venture Limited, the Operational Creditor, under section 9 of the Insolvency and Bankruptcy Code, 2016. Mr. Aneel Saraogi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). During the CIRP, Form G for inviting Expressions of Interest (EOI) was initially issued on July 2, 2022, but no EOI was received by the last date of July 17, 2022. Form G was reissued on August 1, 2022, and Quantta Analytics Private Limited showed interest but failed to submit a Resolution Plan. The 4th CoC meeting on September

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(1)(a) of the IBC, 2016, given …

**Ratio:** The Adjudicating Authority is enjoined by Section 33(2) of the Code to pass an order for

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**Reasoning:** The CoC, in its 8th meeting, decided to liquidate the company under Section 33(1)(a) of

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**Interpretation:** Section 33(1)(a) and 33(2) of the IBC, 2016, are interpreted to mandate

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**Application:** Since the CoC resolved with 100% voting shares to liquidate the Corporate

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## Parties

- **Judges:** Rohit K…; Balraj…; +1 more
- **Appellants:** Viom Infra…; Anneel Saraogi…
- **Respondents:** Bahula Infotech…
- **Advocates:** For the Resolution…

## Timeline

- **April 18, 2022 — CIRP Init…**: Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against…
- **May 13, 2022 — 1st CoC M…**: Appointment of Mr. Aneel Saraogi as…

## 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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