# In the matter of FIPOLA RETAIL (INDIA) PRIVATE LIMITED

> NCLT judgment dated 2025-03-21. Citation: TCN-2025-NCLT-00337. The case involves applications related to the corporate insolvency resolution process (CIRP) of…

- **Court:** NCLT
- **Order date:** 21 Mar 2025
- **Citation:** TCN-2025-NCLT-00337
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/fipola-retail-india-private-limited-57eb108c

## Summary

### Background

The case involves applications related to the corporate insolvency resolution process (CIRP) of Fipola Retail (India) Pvt. Ltd. One application concerns the handing over of vacant possession of premises, while another seeks to relieve the current liquidator. The court is addressing issues related to the relocation of premises and the resignation of the liquidator.

## Facts

The case pertains to Fipola Retail (India) Pvt. Ltd. An applicant sought the handing over of vacant possession of premises measuring 1194 sq. ft. in Mogappair West, Chennai. The applicant offered alternate premises on the terrace of the same building. The liquidator was agreeable to the proposal if feasible. The liquidator filed a memo on 2024-08-12 recommending the appointment of Mutharasapuram. The current liquidator wished to resign with immediate effect. Outstanding payments for RP and the liquidator have not been discharged by the members of the SCC and COC. Counsels representing unsecured creditors stated that they have discharged the responsibility of liquidator dues and sought time to clear CIRP dues.

## Issues and analysis

### Issue 1: Whether the applicant is entitled to the …

**Ratio:** The principle of facilitating the CIRP process and ensuring the smooth functioning of the

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**Reasoning:** The court considered the applicant's request and the liquidator's willingness to relocate

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**Interpretation:** The court interpreted the situation as requiring a practical solution that

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**Application:** The ratio and reasoning were applied to the specific facts by directing the

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Sarkar Vonadharaja…
- **Respondents:** Fipola Retail…

## Timeline

- **2025-03-21 — Hearing…**: Hearing of the National Company…
- **2024-08-12 — Liquidato…**: Liquidator filed a memo recommending…

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