# In the matter of Dentorth India Private Limited

> NCLT judgment dated 2024-03-13. Citation: TCN-2024-NCLT-02065. The case pertains to IA No.643/2023 filed in C.P. (IB) No.73/BB/2022 under Section 33(2) of the…

- **Court:** NCLT
- **Order date:** 13 Mar 2024
- **Citation:** TCN-2024-NCLT-02065
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dentorth-india-private-limited-83b2fd72

## Summary

### Background

The case pertains to IA No.643/2023 filed in C.P. (IB) No.73/BB/2022 under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, concerning Dentorth India Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 31.01.2023. Mr. Vasudevan Gopu Patel was appointed as the Interim Resolution Professional (IRP). After a public announcement on 10.02.2023, a Committee of Creditors (CoC) was formed with operational creditors. The CoC opted for liquidation of the corporate debtor in a meeting held on 02.06.2023.

## Facts

The Corporate Insolvency Resolution Process (CIRP) for Dentorth India Private Limited was initiated on 31.01.2023, with Mr. Vasudevan Gopu Patel appointed as the Interim Resolution Professional (IRP). A public announcement was made on 10.02.2023, and a Committee of Creditors (CoC) was formed, consisting of operational creditors. The first CoC meeting was held on 09.03.2023. Claims were received from employees/workmen amounting to Rs. 1,11,860/-, and the RP admitted claims totaling Rs. 1,02,585/-. The registered office was found to be on rental basis and had been vacated during the Covid period. The CoC opted for liquidation of the corporate debtor on 02.06.2023. The average of fair value and liquidation value was submitted as 4749.79 on 05.05.2023. The applicant

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## Issues and analysis

### Issue 1: Whether the application for liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, …

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

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**Reasoning:** The Adjudicating Authority considered that the CoC had opted for liquidation of the

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**Interpretation:** Section 33(2) provides a mechanism for liquidation when the CoC determines that

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**Application:** In this case, the CoC decided to liquidate Dentorth India Private Limited, and

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## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Respondents:** Dentorth India…
- **Advocates:** Syed Shujat…

## Timeline

- **2023-01-31 — CIRP Init…**: Corporate Insolvency Resolution…
- **2023-02-10 — Public Annou…**: IRP made a Public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 52 — Secured creditor in liquidation proceedings](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-52)

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