# In the matter of EN Power Solutions Pvt. Ltd. IA. No. 811 of 2020 in C.P.No.(IB)3517(MB) of 2018

> NCLT judgment dated 2022-10-12. Citation: TCN-2022-NCLT-00775. The case pertains to an application (I.A. No. 811/2020) filed by the Resolution Professional,…

- **Court:** NCLT
- **Order date:** 12 Oct 2022
- **Citation:** TCN-2022-NCLT-00775
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/en-power-solutions-pvt-ltd-ia-no-811-of-2020-in-cpnoib3517mb-of-2018-bfeb62b3

## Summary

### Background

The case pertains to an application (I.A. No. 811/2020) filed by the Resolution Professional, Mr. Amit C Poddar, seeking the liquidation of En Power Solutions Private Limited, the Corporate Debtor, under Section 33(3) of the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC), consisting of South Indian Bank, had resolved to liquidate the Corporate Debtor. The CoC initially kept the RP's appointment pending, then unanimously decided to liquidate the CD and authorized the RP to file a liquidation application. The RP proposed himself as liquidator, but later refused the appointment due to a disagreement over fees. The CoC then resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement

…

## Facts

En Power Solutions Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC), consisting of South Indian Bank, resolved to liquidate the Corporate Debtor. The Resolution Professional (RP), Mr. Amit C Poddar, initially sought to be appointed as liquidator but later refused due to disagreement over fees. The CoC resolved the liquidator's fees as per IBBI regulations, subject to a minimum of Rs. 2,50,000 plus taxes. A public announcement was made inviting claims from creditors. The CoC decided to proceed with liquidation without inviting Expression of Interest. The CoC member Mr. Justin Jose mentioned that there are no immovable assets in the name of the Corporate Debtor, and the only property mortgaged with their Bank is in the

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, En Power Solutions Pvt. Ltd., …

**Ratio:** Section 33(3) of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of

…

**Reasoning:** The CoC unanimously decided to liquidate the Corporate Debtor. The Resolution

…

**Interpretation:** Section 33(3) of the IBC provides the legal basis for the CoC's decision to

…

**Application:** The CoC's decision to liquidate En Power Solutions Pvt. Ltd. was unanimous. The

…

## Parties

- **Judges:** H.V. Subb…; SMT ANURADHA…
- **Appellants:** Amit C P…
- **Respondents:** En Power Solutions…

## Timeline

- **2019-11-15 — First CoC M…**: The first meeting of the Committee of Creditors (CoC) was held, wherein the Applicant/RP…
- **2019-12-17 — Second CoC…**: In the 2nd meeting of the CoC, members unanimously decided to take the CD into…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

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/en-power-solutions-pvt-ltd-ia-no-811-of-2020-in-cpnoib3517mb-of-2018-bfeb62b3