# In the matter of GLOABTEL CONVERGENCE LIMITED

> NCLT judgment dated 2023-07-13. Citation: TCN-2023-NCLT-02534. The case involves an application (I.A. 3862/2022) filed by Ganesh Enterprises, the successful…

- **Court:** NCLT
- **Order date:** 13 Jul 2023
- **Citation:** TCN-2023-NCLT-02534
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gloabtel-convergence-limited-5cc898c8

## Summary

### Background

The case involves an application (I.A. 3862/2022) filed by Ganesh Enterprises, the successful bidder who purchased Gloabtel Convergence Limited (Corporate Debtor) as a going concern in an auction conducted by the liquidator. The applicant sought various reliefs to smoothly run the Corporate Debtor. Another application (I.A. 50/2023) was filed by the liquidator under section 35(1)(n) of the Insolvency and Bankruptcy Code, 2016, seeking closure of the liquidation process following the successful sale of the Corporate Debtor as a going concern. The CIRP order was passed on 12.02.2019. The COC decided to liquidate the Corporate Debtor on 21.02.2022.

## Facts

Gloabtel Convergence Limited was undergoing CIRP, initiated by Darshita Haresh Mehta. Rajendra K Bhutta was initially appointed as IRP, later replaced by Vijay Pitamber Lulla as Resolution Professional. Due to the absence of a resolution plan, the COC decided to liquidate the Corporate Debtor, and the NCLT passed a liquidation order on 21.02.2022, appointing Vijay Pitamber Lulla as the liquidator. The liquidator conducted e-auctions to sell the Corporate Debtor as a going concern. Ganesh Enterprises emerged as the successful bidder. The liquidator filed an application (I.A. 50/2023) for closure of the liquidation process. Ganesh Enterprises also filed an application (I.A. 3862/2022) seeking various reliefs, including changing the status of the Corporate Debtor in the

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## Issues and analysis

### Issue 1: Whether the Registrar of Companies should be directed to change the status of the corporate debtor …

**Ratio:** The court has the power to issue directions to facilitate the smooth functioning of the

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**Reasoning:** The court considered the applicant's argument that changing the status is necessary for

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**Interpretation:** The interpretation is that the NCLT has the authority to issue directions to

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**Application:** The court directed the Registrar of Companies to change the status of the

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## Parties

- **Judges:** H.V. Subb…; Madhu S…
- **Appellants:** Darshita Haresh…
- **Respondents:** Gloabtel Convergen…

## Timeline

- **2018-01-01 — C.P.(IB)-3795(…**: Filing of the Corporate Insolvency…
- **2019-02-12 — CIRP Ord…**: CIRP order passed by the NCLT…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 79 — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-79)

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