# In the matter of D C Industrial Plant Services Pvt. Ltd. IA(IBC)-90(KB)-2022 in C.P.(IB)-45(KB)-2018

> NCLT judgment dated 2022-01-28. Citation: TCN-2022-NCLT-04342. The case involves an application (IA 90/2021) filed by the successful auction purchaser of the…

- **Court:** NCLT
- **Order date:** 28 Jan 2022
- **Citation:** TCN-2022-NCLT-04342
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/d-c-industrial-plant-services-pvt-ltd-iaibc-90kb-2022-in-cpib-45kb-2018-e37930f2

## Summary

### Background

The case involves an application (IA 90/2021) filed by the successful auction purchaser of the Corporate Debtor, D.C. Industrial Plant Services Private Limited. The auction was conducted by the liquidator, and the applicant purchased the Corporate Debtor as a going concern. A Memorandum of Understanding (MoU) was entered into by the auction purchaser and the liquidator. The Adjudicating Authority had previously approved the MoU, granting operational control to the auction purchaser.

## Facts

IA 90/2021 was filed by the successful auction purchaser of D.C. Industrial Plant Services Private Limited, the Corporate Debtor. The auction was conducted by the liquidator, and the Corporate Debtor was purchased as a going concern. An MoU was entered into between the auction purchaser and the liquidator, which was previously approved by the Adjudicating Authority, granting operational control to the purchaser. The Corporate Debtor's status in the RoC's 'Master Data' needs to be changed from 'under liquidation' to 'Not applicable' to allow the purchaser to participate in tenders. The sale certificate dated 30.12.2021 and its addendum dated 14.01.2022 are relevant to this matter. The successful auction purchaser bid in response to a public advertisement regarding a

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## Issues and analysis

### Issue 1: Whether the Registrar of Companies (RoC) should be directed to change the status of the Corporate …

**Ratio:** Upon the sale of a Corporate Debtor as a going concern, the status in the RoC records

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**Reasoning:** The court reasons that the status in the RoC records should reflect the current status of

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**Interpretation:** The interpretation is that the RoC's records must accurately reflect the

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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## Parties

- **Judges:** Rajasekha…; Balraj…
- **Appellants:** Indian Overseas…
- **Respondents:** D.C. Industrial…
- **Advocates:** Shaunak…; Patita Paban…; +3 more

## Timeline

- **2021-02-11 — Auction…**: Auction conducted by the…
- **2021-08-11 — MoU Date…**: MoU entered into by the successful…

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