# In the matter of Bartronics Global Solutions Limited I.A. No. 574-2021 & I.A. no. 565-2022 in C.P. (IB) No. 384-7-HDB-2020

> NCLT judgment dated 2022-09-06. Citation: TCN-2022-NCLT-01159. The case involves two interlocutory applications (I.A. No. 574/2021 and I.A. No. 565/2022)…

- **Court:** NCLT
- **Order date:** 6 Sept 2022
- **Citation:** TCN-2022-NCLT-01159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bartronics-global-solutions-limited-ia-no-574-2021-ia-no-565-2022-in-cp-ib-no-38-0beaed8f

## Summary

### Background

The case involves two interlocutory applications (I.A. No. 574/2021 and I.A. No. 565/2022) filed by the Resolution Professional of M/S Bartronics Solutions Limited, the Corporate Debtor, under Sections 33(2) and 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The applications sought orders for the initiation of the liquidation process against the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 04.08.2021, and the Applicant was appointed as the interim resolution professional. The Committee of Creditors (CoC) was constituted, and in its second meeting on 27.09.2021, it was resolved that the Corporate Debtor be liquidated due to

…

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S Bartronics Solutions Limited on 04.08.2021, with the Applicant appointed as the interim resolution professional. The CIRP was initiated based on an application filed under Section 7 of the Code by M/S Infokall Solutions Ltd., a financial creditor. The Committee of Creditors (CoC) was constituted, and in its second meeting on 27.09.2021, the CoC reviewed the financial performance of the Corporate Debtor, noting continuous losses and erosion of net worth. The Corporate Debtor was unable to meet its payment obligations to its financial and operational creditors. The financial statements revealed losses of Rs. 28.29 Lakh in 2019-2020 and Rs. 44.13 Lakh in 2020-2021. The CoC resolved that the

…

## Issues and analysis

### Issue 1: Whether the liquidation of the Corporate Debtor, M/S Bartronics Solutions Limited, should be …

**Ratio:** Law requires that ordering the liquidation of an enterprise which has been found to be

…

**Reasoning:** The court considered the financial statements of the Corporate Debtor, which revealed

…

**Interpretation:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows for the

…

**Application:** The court applied the ratio to the facts of the case, noting that the Corporate

…

## Parties

- **Judges:** TELAPROLU…; Veera Brahma Rao…
- **Appellants:** Ramachander…
- **Respondents:** Bartronics…; Bartronics Global…

## Timeline

- **2021-08-04 — Initiation…**: Tribunal directed the initiation of Corporate Insolvency Resolution Process (CIRP)…
- **2021-09-06 — First CoC M…**: The Applicant was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/bartronics-global-solutions-limited-ia-no-574-2021-ia-no-565-2022-in-cp-ib-no-38-0beaed8f