# In the matter of C View Innovations Pvt. L td. IA-1483-2021 in (IB)-879(ND)2019

> NCLT judgment dated 2022-05-26. Citation: TCN-2022-NCLT-02592. The case involves an application filed under Section 33(2) read with Section 34(1) and 60(5) of…

- **Court:** NCLT
- **Order date:** 26 May 2022
- **Citation:** TCN-2022-NCLT-02592
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/c-view-innovations-pvt-l-td-ia-1483-2021-in-ib-879nd2019-69c1ee75

## Summary

### Background

The case involves an application filed under Section 33(2) read with Section 34(1) and 60(5) of the Insolvency and Bankruptcy Code, 2016, and Section 11 of NCLT Rules 2016, seeking an order for the liquidation of the Corporate Debtor, M/s. C View Innovation Private Limited, and the appointment of the Resolution Professional, Sh. Sanjiv Kumar Arora, as the Liquidator. The Committee of Creditors (COC) resolved to file a liquidation application as no resolution plan was received. The CIRP was initiated on 14th June 2019 and expired on 20th March 2020, the same day the COC resolved to file the liquidation application.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. C View Innovations Pvt. Ltd. on June 14, 2019. The CIRP period expired on March 20, 2020. During the CIRP, no resolution plan was received. The Committee of Creditors (COC), in its meeting held on March 20, 2020, resolved to file a liquidation application before the Adjudicating Authority. The COC also resolved to appoint the Resolution Professional, Sh. Sanjiv Kumar Arora, as the Liquidator. The resolution was approved unanimously by the 100% voting share of the COC. The applicant filed an application under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order for the liquidation of the Corporate Debtor and the appointment of the Resolution Professional as the

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, M/s. C View Innovations Pvt. Ltd., …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows the Adjudicating

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**Reasoning:** The court reasoned that the COC, with 100% voting share, had resolved for liquidation due

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**Interpretation:** Section 33(2) provides a mechanism for liquidation when the CIRP fails to

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**Application:** In this case, the COC's decision to liquidate the Corporate Debtor, coupled

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; L. N. G…
- **Appellants:** M/s. Anjushree…
- **Respondents:** C View Innovations…; M/s. C View…

## Timeline

- **2019-06-14 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. C View…
- **2020-03-20 — COC Resol…**: Committee of Creditors (COC) resolved to file a liquidation application and appoint Sh.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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