# In the matter of I-dzire Hospitality Pvt. Ltd.

> NCLT judgment dated 2023-12-05. Citation: TCN-2023-NCLT-00462. The case involves the insolvency resolution of Idzire Hospitality Private Limited under the…

- **Court:** NCLT
- **Order date:** 5 Dec 2023
- **Citation:** TCN-2023-NCLT-00462
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/i-dzire-hospitality-pvt-ltd-eb0bcd8e

## Summary

### Background

The case involves the insolvency resolution of Idzire Hospitality Private Limited under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) decided to initiate liquidation of the Corporate Debtor (CD) with a 100% vote share, as the CD was not in operation for the last three years and there was no possibility of revival of business. No resolution plan or expression of interest was received, and the CD had negligible assets. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition before the NCLT Delhi for liquidation. An application was filed by the Ex-IRP Mr. Manoj Kumar Singh praying to release him from the present assignment, in view of the fact that he is under disciplinary proceedings by the IBBI. The NCLT considered various IAs

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## Facts

The Corporate Debtor, M/s. Idzire Hospitality Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The company was not in operation for the last three years. The Committee of Creditors (CoC) resolved to liquidate the company with a 100% vote share, as there was no possibility of revival and no resolution plan was received. The IRP, Mr. Suman Kumar Verma, was authorized to file a petition for liquidation. Mr. Manoj Kumar Singh, the Ex-IRP, filed an application to be released from his assignment due to disciplinary proceedings by the IBBI. The CoC passed a resolution dated 30.01.2023, and the report regarding the appointment of IRP as RP was taken on record. The CoC passed a

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Idzire Hospitality Private Limited, should be liquidated given …

**Ratio:** Section 33(2) of the IBC, 2016, allows the CoC to decide to liquidate the Corporate

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**Reasoning:** The CoC, with a 100% vote share, decided to liquidate the Corporate Debtor as it was not

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**Interpretation:** Section 33(2) of the IBC, 2016, grants the CoC the authority to decide on the

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**Application:** In this case, the CoC's decision to liquidate the Corporate Debtor is in

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. L. N.…
- **Appellants:** Jasoda Gu…
- **Respondents:** Idzire Hospitality…; M/s. Idzire…

## Timeline

- **2021-07-28 — Period o…**: Period from 28.07.2021 to 07.12.2022, during which Mr. Manoj Kumar Singh IRP remained in…
- **2022-12-07 — Order in IA-3…**: Order dated 07.12.2022 passed in IA-3727/2021, in terms of which Mr. Manoj Kumar Singh…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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