# In the matter of Brilliant IT Enabling Services Private Limited

> NCLT judgment dated 2023-12-22. Citation: TCN-2023-NCLT-00056. The application was filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, and…

- **Court:** NCLT
- **Order date:** 22 Dec 2023
- **Citation:** TCN-2023-NCLT-00056
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/brilliant-it-enabling-services-private-limited-cf21b4a0

## Summary

### Background

The application was filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016, and Regulation 45(3) of the IBBI (Liquidation Process Regulations), 2016, by the Liquidator seeking an order for the dissolution of M/s. Brilliant IT Enabling Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-03-04. The liquidation was ordered on 2021-10-04.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Brilliant IT Enabling Private Limited on 2021-03-04. The liquidation of the Corporate Debtor was ordered on 2021-10-04, and the Applicant was appointed as the Liquidator. The PF department submitted a claim which was rejected by the applicant. The Liquidator filed a preliminary report on 2021-12-16, detailing the asset memorandum of the Corporate Debtor, which indicated that the Corporate Debtor had no realizable or salable assets. The Liquidator filed a closure report dated 2021-04-05, stating the details of CIRP expenses and liquidation costs. The PF department's application against rejection of claim was dismissed by the tribunal on 2023-12-22. The Corporate Debtor has no realizable

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Brilliant IT Enabling Private Limited, should be dissolved due …

**Ratio:** Section 54 of the IBC, 2016, states that where the assets of the corporate debtor have

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**Reasoning:** The Tribunal considered the submissions of the Counsel and the records, finding that

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**Interpretation:** Section 54 of the IBC provides the legal basis for dissolving a corporate

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**Application:** In this case, the Liquidator filed an application for dissolution, stating that

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## Parties

- **Judges:** Shri. Sanji…; SHRI. RAVICHANDRAN…
- **Appellants:** N. Ku…
- **Respondents:** Brilliant IT…

## Timeline

- **2021-03-04 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP)…
- **2021-10-04 — Liquidation…**: Liquidation of the…

## 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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