# In the matter of Exclusive Engineers Private Limited

> NCLT judgment dated 2023-08-03. Citation: TCN-2023-NCLT-02176. The case involves Exclusive Engineers Private Limited, admitted into CIRP under an order dated…

- **Court:** NCLT
- **Order date:** 3 Aug 2023
- **Citation:** TCN-2023-NCLT-02176
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/exclusive-engineers-private-limited-57b6b3ce

## Summary

### Background

The case involves Exclusive Engineers Private Limited, admitted into CIRP under an order dated 2019-11-21. The CoC was formed with two operational creditors: Union of India and the Commissioner of Commercial Tax, Government of West Bengal. An application, IA(IBC)/1053(KB)2022, was filed by the Resolution Professional (RP) seeking liquidation of the corporate applicant.

## Facts

Exclusive Engineers Private Limited was admitted into CIRP via an order dated 2019-11-21. The Committee of Creditors (CoC) consists of two operational creditors: the Union of India (99.05% share) and the Commissioner of Commercial Tax, Government of West Bengal (0.95% share). The Resolution Professional (RP) filed IA(IBC)/1053(KB)2022 seeking liquidation of the Corporate Applicant. The Corporate Applicant lacks assets and cooperation from the suspended Board of Directors. The CoC members have not provided funds to cover the CIRP costs. The central issue is who will bear the costs if a liquidation order is issued.

## Issues and analysis

### Issue 1: Whether the Corporate Applicant should be …

**Ratio:** The decision to liquidate a corporate debtor is typically based on factors such as the

…

**Reasoning:** The court is considering the RP's application for liquidation due to the lack of assets

…

**Interpretation:** The legal interpretation hinges on whether the conditions for a successful

…

**Application:** Given the specific facts of the case, the lack of assets and cooperation

…

## Parties

- **Judges:** Rohit K…; Balraj…; +1 more
- **Respondents:** Exclusive…
- **Advocates:** Mr Rishav B…; Mr Soumava…; +1 more

## Timeline

- **2019-11-21 — CIRP Admi…**: Exclusive Engineers Private…
- **2023-04-21 — Order Res…**: Order reserved on…

---

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/exclusive-engineers-private-limited-57b6b3ce