# In the matter of Dehradun Highways Project Ltd. IA No. 5888 of 2022 in CP (IB) No. 725-ND-2020

> NCLT judgment dated 2023-01-23. Citation: TCN-2023-NCLT-04948. The case involves an application filed by Mr. Anil Kohli, the Resolution Professional of…

- **Court:** NCLT
- **Order date:** 23 Jan 2023
- **Citation:** TCN-2023-NCLT-04948
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dehradun-highways-project-ltd-ia-no-5888-of-2022-in-cp-ib-no-725-nd-2020-ab502b6b

## Summary

### Background

The case involves an application filed by Mr. Anil Kohli, the Resolution Professional of Dehradun Highways Project Limited ('Corporate Debtor'), seeking the liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The application was based on a resolution passed by the Committee of Creditors ('CoC') during its 16th meeting held on 2022-11-14. The Corporate Insolvency Resolution Process (CIRP) was initiated against Dehradun Highways Project Limited based on an application filed by ICICI Bank Limited under Section 7 of the Code. Mr. Anil Kohli was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Dehradun Highways Project Limited following an application by ICICI Bank Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Anil Kohli was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 2020-09-22, inviting claims from creditors. The Committee of Creditors (CoC) initially comprised six financial creditors, later reconstituted to include seven. Multiple attempts were made to solicit resolution plans, including publishing invitations for expression of interest and extending deadlines. However, the resolution plans received were either non-compliant or rejected by the CoC. A

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Dehradun Highways Project Limited, …

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

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**Reasoning:** The CoC, in its commercial wisdom, decided to liquidate the Corporate Debtor after

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**Interpretation:** Section 33(2) provides the legal basis for liquidating a corporate debtor when

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**Application:** The CoC's decision to liquidate Dehradun Highways Project Limited, coupled with

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## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** ICICI Ban…
- **Respondents:** Dehradun Highways…

## Timeline

- **2020-09-22 — Public Annou…**: Public announcement in Form A was made, inviting claims from the creditors of the…
- **2020-10-02 — Last Date for…**: Last date for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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