# In the matter of Bharat Medicare Private Limited IA-293-IB-2020 in CP-191-IB-2018

> NCLT judgment dated 2023-06-13. Citation: TCN-2023-NCLT-02966. The case pertains to IA/293/IB/2020 filed in CP/191/IB/2018 under Section 54 of the Insolvency…

- **Court:** NCLT
- **Order date:** 13 Jun 2023
- **Citation:** TCN-2023-NCLT-02966
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bharat-medicare-private-limited-ia-293-ib-2020-in-cp-191-ib-2018-6a8d327e

## Summary

### Background

The case pertains to IA/293/IB/2020 filed in CP/191/IB/2018 under Section 54 of the Insolvency & Bankruptcy Code, 2016, read with Regulation 45 of the IBBI (Liquidation process) Regulations, 2016. The Corporate Insolvency Resolution Process (CIRP) for Bharat Medicare Private Limited was initiated by an Operational Creditor under Section 9 of IBC, 2016, with an order dated 2018-04-18. The applicant, A. Mohan Kumar, was appointed as the Interim Resolution Professional and later as the Liquidator. The Tribunal ordered liquidation on 2019-01-28, and a public announcement was made on 2019-02-01.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Bharat Medicare Private Limited by an Operational Creditor under Section 9 of the IBC, 2016. A. Mohan Kumar was appointed as the Interim Resolution Professional and later as the Liquidator. The Tribunal ordered liquidation on 2019-01-28. The liquidator complied with various IBBI regulations, including changing bank account nomenclature, submitting reports, informing authorities, verifying claims, and making public announcements. The liquidator registered and obtained GSTIN for the Corporate Debtor post-liquidation order and filed for cancellation of GST registration. Distributions to stakeholders were made based on admitted claims. The liquidator submitted progress reports and asset sale reports.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Bharat Medicare Private Limited, should be dissolved under Section 54 …

**Ratio:** Section 54 of the IBC, 2016, provides for the dissolution of a corporate debtor when its

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**Reasoning:** The court reasoned that the liquidator had complied with all necessary regulations and

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**Interpretation:** Section 54 of the IBC, 2016, is interpreted to mean that once the assets of a

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**Application:** In this case, the court applied Section 54 of the IBC, 2016, to the facts

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## Parties

- **Judges:** Ramalingam…; SAMEER…
- **Appellants:** A. Mohan…
- **Respondents:** Bharat Medicare…
- **Advocates:** S. Sathyana…

## Timeline

- **2018-04-18 — CIRP Init…**: Corporate Insolvency Resolution Process initiated by an Operational Creditor under…
- **2019-01-28 — Liquidation…**: Tribunal ordered liquidation…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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