# In the matter of Benchmark Supply Chain Solution Private Limited IA-3461, 4190 & 4532-2022 in (IB)-223(ND)2020

> NCLT judgment dated 2022-10-12. Citation: TCN-2022-NCLT-00777. The case involves an application (IA-4190/2022) seeking cancellation of Bailable Warrants…

- **Court:** NCLT
- **Order date:** 12 Oct 2022
- **Citation:** TCN-2022-NCLT-00777
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/benchmark-supply-chain-solution-private-limited-ia-3461-4190-4532-2022-in-ib-223-4684b750

## Summary

### Background

The case involves an application (IA-4190/2022) seeking cancellation of Bailable Warrants issued by the Adjudicating Authority against Respondent No. 1 and 2. Further applications (IA-3461/2022 and IA-4532/2022) relate to the filing of statements of documents and information, and an order for the liquidation of the Corporate Debtor, Benchmark Supply Chain Solutions Private Limited.

## Facts

M/s. D. Light Energy Private Limited filed an application/petition. The case involves a dispute with M/s. Benchmark Supply Chain Solution Private Limited. The Adjudicating Authority issued Bailable Warrants against Respondent No. 1 and 2. The Suspended Board of Directors handed over the books of accounts, indicating an outstanding amount of Rs. 6 crore against certain debtors, but failed to provide a list of debtors. The Resolution Professional (RP) applied for the liquidation of the Corporate Debtor, Benchmark Supply Chain Solutions Private Limited, which was resolved by the CoC in its 3rd meeting held on 16.08.2022 with 100% vote. The RP did not consent to continue as Liquidator. The application under Section 19(2) of the Code was filed by the RP.

## Issues and analysis

### Issue 1: Whether the Bailable Warrants issued against …

**Ratio:** Compliance with warrants

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**Reasoning:** Both R-1 and R-2 were present in

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**Interpretation:** The court interprets the presence of the respondents as sufficient compliance

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**Application:** Since R-1 and R-2 complied with the warrants, their appearance was dispensed

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## Parties

- **Judges:** SHRI. BACHU…; Shri. L. N.…
- **Appellants:** M/s. D. Light…
- **Respondents:** Benchmark Supply…; M/s. Benchmark…

## Timeline

- **2022-10-12 — Order Del…**: Order delivered on 12.10.2022…
- **2022-08-16 — CoC Meet…**: The CoC held its 3rd meeting on 16.08.2022, resolving to liquidate the Corporate Debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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