# 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-00772. The case involves applications (IA-4190/2022, IA-3461/2022, IA-4532/2022) filed in the National…

- **Court:** NCLT
- **Order date:** 12 Oct 2022
- **Citation:** TCN-2022-NCLT-00772
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/benchmark-supply-chain-solution-private-limited-ia-34614190-4532-2022-in-ib-223n-19943245

## Summary

### Background

The case involves applications (IA-4190/2022, IA-3461/2022, IA-4532/2022) filed in the National Company Law Tribunal (NCLT), New Delhi Bench, concerning the insolvency resolution process of D. Light Energy Private Limited and Benchmark Supply Chain Solutions Private Limited. IA-4190/2022 seeks cancellation of bailable warrants. IA-3461/2022 concerns the filing of documents and information. IA-4532/2022 is an application by the RP to pass an order for the liquidation of the Corporate Debtor, Benchmark Supply Chain Solutions Private Limited.

## Facts

M/s. D. Light Energy Private Limited is the Applicant/Petitioner. M/s. Benchmark Supply Chain Solution Private Limited is the Respondent and Corporate Debtor. An application (IA-4190/2022) was filed seeking cancellation of bailable warrants issued against the Respondent No. 1 and 2. The Suspended Board of Directors handed over the books of accounts, which showed an outstanding amount of Rs. 6 crore against certain debtors, but they did not hand over the list of debtors. The CoC resolved for liquidation of the Corporate Debtor in its 3rd meeting held on 16.08.2022, with 100% vote. The RP did not consent to continue as liquidator. An application (IA-3461/2022) was filed under Section 19(2) of the Code. An application (IA-4532/2022) was filed by the RP to pass an order

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## Issues and analysis

### Issue 1: Whether the bailable warrants issued against …

**Ratio:** Compliance with warrants

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**Reasoning:** The court noted that both R-1 and R-2 were

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**Interpretation:** The legal principle is that if a party complies with a warrant, their

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

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## Parties

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

## Timeline

- **2022-10-12 — Order Del…**: Order delivered by the…
- **2022-08-16 — CoC Meet…**: The CoC resolved for liquidation of the…

## 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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