# In the matter of Ganpati Hightech Communication Private Limited

> NCLT judgment dated 2024-03-12. Citation: TCN-2024-NCLT-02109. The case involves an application for the liquidation of Ganpati Hightech Communication Private…

- **Court:** NCLT
- **Order date:** 12 Mar 2024
- **Citation:** TCN-2024-NCLT-02109
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ganpati-hightech-communication-private-limited-7fa97bdb

## Summary

### Background

The case involves an application for the liquidation of Ganpati Hightech Communication Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on August 3, 2023, following a petition by State Bank of India. An Interim Resolution Professional (IRP), Mr. Aditya Kumar Tibrewal, was appointed. Public announcements were made, and a Committee of Creditors (CoC) was formed, consisting of State Bank of India.

## Facts

On August 3, 2023, the Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) for Ganpati Hightech Communication Private Limited following a petition by State Bank of India. Mr. Aditya Kumar Tibrewal was appointed as the Interim Resolution Professional (IRP). A Committee of Creditors (CoC) was formed, with State Bank of India as a member. The IRP made efforts to obtain books of accounts and financial statements from the Corporate Debtor's directors, but these efforts were unsuccessful. An invitation of interest was published, but no expressions of interest were received. The CoC then resolved to liquidate the Corporate Debtor with 100% votes and proposed Mr. Bishwanath Choudhary as the liquidator. The CoC's decision was based on the lack of

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## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows the Adjudicating

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**Reasoning:** The CoC approved the liquidation with 100% votes, indicating a unanimous decision that no

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**Interpretation:** Section 33(2) provides a clear framework for liquidation when the CoC

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**Application:** Given the CoC's unanimous approval and the lack of any resolution plan, the

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## Parties

- **Judges:** Smt Bidisha…; D. Ar…
- **Appellants:** State Bank of…
- **Respondents:** Ganpati Hightech…

## Timeline

- **2023-08-03 — CIRP Init…**: The Adjudicating Authority directed the initiation of the Corporate Insolvency Resolution…
- **2023-09-04 — CoC Meet…**: In the 1st CoC meeting, Mr. Aditya Kumar Tibrewal was appointed as the Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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