# In the matter of Ekdant Buildtech Private Limited I.A. 155-ND-2021 in Company Petition No.(IB) - 1144(ND)-2019

> NCLT judgment dated 2022-03-31. Citation: TCN-2022-NCLT-03454. The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 31 Mar 2022
- **Citation:** TCN-2022-NCLT-03454
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ekdant-buildtech-private-limited-ia-155-nd-2021-in-company-petition-noib-1144nd-72d90ae6

## Summary

### Background

The case involves an application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the corporate debtor, M/s Ekdant Buildtech Private Limited. An operational creditor had initially filed an application under Section 9 of the Code for initiating Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. The Tribunal admitted the application on 04.11.2019, initiating CIRP. Mr. Satish Joshi was appointed as the Interim Resolution Professional (IRP). After the collection of claims, the Committee of Creditors (CoC) was constituted, and its first meeting was held on 06.12.2019. The applicant, Subhash Kumar Kundra, was confirmed as the Resolution Professional on 15.01.2020.

## Facts

An operational creditor, P.S.T Trading and Components, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Ekdant Buildtech Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC). The application was admitted by the National Company Law Tribunal (NCLT) on 04.11.2019. Mr. Satish Joshi was appointed as the Interim Resolution Professional (IRP). Subhash Kumar Kundra was later appointed as the Resolution Professional (RP) on 15.01.2020. The 180-day CIRP period expired on 11.06.2020, considering the exclusion of the lockdown period. The Committee of Creditors (CoC) deferred all agendas regarding liquidation during the 5th meeting, and no resolution for liquidation was passed. The financial creditor corporation bank filed objections

…

## Issues and analysis

### Issue 1: Whether the application under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, for the …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, allows for the initiation of

…

**Reasoning:** The court reasoned that since the CIRP period had expired on 11.06.2020, and no

…

**Interpretation:** Section 33(1) is interpreted to mean that upon the expiry of the CIRP period

…

**Application:** The ratio and reasoning were applied to the fact that the CIRP period had

…

## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** Subhash Kumar…
- **Respondents:** M/s Ekdant…

## Timeline

- **2019-11-04 — CIRP Init…**: Application under Section 9 of the Code admitted by the Tribunal, initiating CIRP against…
- **2019-12-06 — First CoC M…**: First meeting of the Committee…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ekdant-buildtech-private-limited-ia-155-nd-2021-in-company-petition-noib-1144nd-72d90ae6