# In the matter of Empower Softrade & Techno Pvt. Ltd. IB-3058(ND)-2019

> NCLT judgment dated 2022-05-20. Citation: TCN-2022-NCLT-02691. The application was filed under Section 60(5) of the IB Code, 2016, read with Rule 11 of NCLT…

- **Court:** NCLT
- **Order date:** 20 May 2022
- **Citation:** TCN-2022-NCLT-02691
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/empower-softrade-techno-pvt-ltd-ib-3058nd-2019-198e214e

## Summary

### Background

The application was filed under Section 60(5) of the IB Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking directions for the CIRP of the Corporate Debtor, along with a Progress Report and supporting affidavit and certificate under Section 65 B of the Indian Evidence Act. The Tribunal heard submissions from the Counsel for the IRP and the IRP in person.

## Facts

M/s. Metenere Ltd. filed a petition against M/s. Empower Softrade and Techno Pvt. Ltd. under Section 9 of the IBC, 2016. The application was filed under Section 60(5) of the IB Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking directions for the CIRP of the Corporate Debtor, along with a Progress Report and supporting affidavit and certificate under Section 65 B of the Indian Evidence Act. The Tribunal heard submissions from the Counsel for the IRP and the IRP in person. The Tribunal determined that continuing the CIRP was not a feasible option and decided to close the CIRP.

## Issues and analysis

### Issue 1: Whether the continuation of the Corporate Insolvency …

**Ratio:** The Tribunal has the power to assess the feasibility of continuing the CIRP based on the

…

**Reasoning:** The Tribunal, after hearing the submissions and noting the contents of the application,

…

**Interpretation:** The Tribunal interprets the provisions of the IB Code and NCLT Rules to allow

…

**Application:** In this case, the Tribunal applied its discretion and determined that

…

## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** M/s Metener…
- **Respondents:** M/s. Empower…

## Timeline

- **2022-05-20 — Order Del…**: Order delivered on…
- **2022-07-05 — Matter L…**: Matter listed on 05.07.2022 regarding the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

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/empower-softrade-techno-pvt-ltd-ib-3058nd-2019-198e214e