# In the matter of Bhadramaruti Concast Pvt. Ltd. IA-1513-2020 in C.P. (IB)4493(MB)2018

> NCLT judgment dated 2022-04-25. Citation: TCN-2022-NCLT-03093. The application was filed by the Resolution Professional seeking liquidation of the Corporate…

- **Court:** NCLT
- **Order date:** 25 Apr 2022
- **Citation:** TCN-2022-NCLT-03093
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bhadramaruti-concast-pvt-ltd-ia-1513-2020-in-cp-ib4493mb2018-d626e602

## Summary

### Background

The application was filed by the Resolution Professional seeking liquidation of the Corporate Debtor under Sections 33(1)(a) and 34(1) of the Insolvency and Bankruptcy Code, 2016, after the Committee of Creditors approved the initiation of liquidation.

## Facts

The National Company Law Tribunal (NCLT), Mumbai Bench, Court-IV, heard an application, IA-1513/2020, filed by Mr. Laxman Digambar Pawar, the Resolution Professional (RP), seeking the liquidation of Bhadramaruti Concast Private Limited (Corporate Debtor) under Section 33(1)(a) and Section 34(1) of the Insolvency and Bankruptcy Code, 2016 (the Code). The NCLT had previously admitted a petition under Section 9 of the Code on February 4, 2020, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, and appointed the applicant as the Interim Resolution Professional (IRP). The IRP made public announcements on February 20, 2020, in Form A, inviting claims from creditors as per Regulation 6(3) of the IBBI (Insolvency Resolution Process for

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## Issues and analysis

### Issue 1: Whether Bhadramaruti Concast Private Limited should be liquidated under the Insolvency and …

**Ratio:** The NCLT allowed the application for liquidation, affirming that when the CoC resolves

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**Reasoning:** The Committee of Creditors (CoC) unanimously approved the initiation of liquidation,

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**Interpretation:** The NCLT interpreted Sections 33(1)(a) and 34(1) of the Code to permit

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**Application:** Given the CoC's 100% vote for liquidation, the absence of employees, and the

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## Parties

- **Judges:** RAJESH S…; KISHORE VEMULAPALL…
- **Appellants:** Aadilaxmi Trading…
- **Respondents:** Bhadramaruti…
- **Advocates:** For the Resolution…; Laxman Pawar (RP…

## Timeline

- **February 4, 2020 — CIRP Init…**: NCLT admitted the petition under Section 9 of the Code, initiating CIRP against…
- **February 20, 2020 — Public Annou…**: IRP made public announcements through Form A inviting claims from creditors as per…

## 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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