# In the matter of East Mond Infra and Trade Pvt. Ltd. I.A No. 252 of 2022 in C.P. (IB) No. 112-BB-2021

> NCLT judgment dated 2022-09-29. Citation: TCN-2022-NCLT-00891. The case pertains to I.A. No. 252 of 2022 in C.P. (IB) No.112/BB/2021, an admitted matter under…

- **Court:** NCLT
- **Order date:** 29 Sept 2022
- **Citation:** TCN-2022-NCLT-00891
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/east-mond-infra-and-trade-pvt-ltd-ia-no-252-of-2022-in-cp-ib-no-112-bb-2021-096e9e52

## Summary

### Background

The case pertains to I.A. No. 252 of 2022 in C.P. (IB) No.112/BB/2021, an admitted matter under Section 33(2) of the I&B Code, 2016. The main petition, CP (IB) No.112/BB/2021, was filed under Section 9 of the I&B Code, 2016 by M/s. NHDPL South Pvt. Ltd. (Operational Creditor) to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra & Trade Pvt. Ltd. The petition was admitted on 05.01.2022, and Mr. Nitin Daga was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement in 'The Financial Express' and 'Vijayavani' on 08.01.2022. A Committee of Creditors (CoC) was constituted on 26.01.2022. The CoC appointed Sushanta Kumar Choudhury as the Resolution Professional (RP) on 02.02.2022, confirmed

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## Facts

M/s. NHDPL South Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. East Mond Infra & Trade Pvt. Ltd. under Section 9 of the I&B Code, 2016. The CIRP was admitted on 05.01.2022. Nitin Daga was appointed as the Interim Resolution Professional (IRP). Public announcements were made on 08.01.2022. A Committee of Creditors (CoC) was formed on 26.01.2022. Sushanta Kumar Choudhury was appointed as the Resolution Professional (RP) on 02.02.2022. The CoC invited Expression of Interest (EOI) for a resolution plan, but no EOI was received. The CoC approved the Request for Resolution Plan (RFRP), but no successful resolution application was received. Consequently, the CoC, with 100% voting share, approved the

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## Issues and analysis

### Issue 1: Whether the conditions under Section 33(1) of the I&B Code, 2016 are satisfied to initiate the …

**Ratio:** Section 33(1) of the I&B Code allows the Adjudicating Authority to pass an order for

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**Reasoning:** The court reasoned that no resolution plan was received despite efforts to invite

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**Interpretation:** Section 33(1) provides the legal basis for initiating liquidation when the CIRP

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**Application:** In this case, since no resolution plan was received, the Adjudicating Authority

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## Parties

- **Judges:** KISHORE VEMULAPALL…; Manoj Kumar…
- **Respondents:** M/s. East Mond…
- **Advocates:** Narayana…

## Timeline

- **2021-01-01 — Main Petition…**: CP (IB) No.112/BB/2021 filed under Section 9 of…
- **2022-01-05 — Admission of…**: The petition was admitted, and Mr. Nitin Daga was appointed as the Interim Resolution…

## 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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