# 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-02960. 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-02960
- **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-2018-9401e778

## 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 the Tribunal following an application by an Operational Creditor under Section 9 of the IBC, 2016, with an order dated 2018-04-18. The applicant, A. Mohan Kumar, was appointed as the Interim Resolution Professional. Subsequently, the Tribunal ordered liquidation on 2019-01-28. The liquidator made a public announcement in 'Business Standard' and 'Maalai Tamizhagam' on 2019-02-01, which was also submitted to the IBBI on 2019-02-02 for placement on their website. The

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## Facts

The Corporate Insolvency Resolution Process (CIRP) for Bharat Medicare Private Limited was initiated following an application by an Operational Creditor under Section 9 of the IBC, 2016. A. Mohan Kumar was appointed as the Interim Resolution Professional and subsequently as the liquidator. The Tribunal ordered liquidation on 2019-01-28. The liquidator made public announcements and complied with various regulatory requirements, including changing the bank account nomenclature to 'LIQUIDATION A/C OF BHARAT MEDICARE PL'. The liquidator submitted reports to the Tribunal and informed relevant authorities about the liquidation process. The Corporate Debtor was not registered with GST prior to liquidation but obtained GSTIN post-liquidation order, filed returns, and applied

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Bharat Medicare Private Limited, should be dissolved under …

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

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**Reasoning:** The Tribunal considered the averments made in the application, the final report, and the

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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 liquidator, A. Mohan Kumar, submitted evidence and a

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## Parties

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

## Timeline

- **2018-04-18 — CIRP Init…**: Corporate Insolvency Resolution Process initiated by the Tribunal following an…
- **2019-01-28 — Liquidation…**: Tribunal orders liquidation…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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