# In the matter of Indo International Tobacco Limited

> NCLT judgment dated 2024-01-11. Citation: TCN-2024-NCLT-03182. The case pertains to an Interlocutory Application (IA-33/2024) filed in Company Petition No.…

- **Court:** NCLT
- **Order date:** 11 Jan 2024
- **Citation:** TCN-2024-NCLT-03182
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/indo-international-tobacco-limited-b951bc67

## Summary

### Background

The case pertains to an Interlocutory Application (IA-33/2024) filed in Company Petition No. IB-720(ND)/2021. The application was filed by Mr. Umesh Garg, the Liquidator of M/s. Indo International Tobacco Limited, seeking to place on record the Authorisation for Assignment (AFA), Consent Form, and disclosure regarding disciplinary proceedings, as required under Regulation 3 of the IBBI (Liquidation Process) Regulations, 2016, read with Rule 11 of the NCLT Rules, 2016. The Adjudicating Authority had initiated the liquidation process against M/s. Indo International Tobacco Limited vide its order dated 14.12.2023 and appointed Mr. Umesh Garg as the liquidator.

## Facts

The key facts are as follows: An Interlocutory Application (IA-33/2024) was filed in Company Petition No. IB-720(ND)/2021. The applicant is Mr. Umesh Garg, the Liquidator of M/s. Indo International Tobacco Limited. The application seeks to place on record the Authorisation for Assignment (AFA), Consent Form, and disclosure regarding disciplinary proceedings. The liquidation process against M/s. Indo International Tobacco Limited was initiated by the Adjudicating Authority on 14.12.2023, and Mr. Umesh Garg was appointed as the liquidator. Mr. Garg's registration number is IBBI/IPA-001/IP-P00135/2017-18/10277. The applicant complied with the Adjudicating Authority's order by placing on record his consent letter dated 31.08.2023, the AFA valid till 08/05/2014 issued by

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## Issues and analysis

### Issue 1: Whether the Interlocutory Application (IA-33/2024) filed by the liquidator, Mr. Umesh Garg, should …

**Ratio:** The ratio is based on Regulation 3 of the IBBI (Liquidation Process) Regulations, 2016,

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**Reasoning:** The court reasoned that the applicant, Mr. Umesh Garg, had complied with the Adjudicating

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**Interpretation:** The interpretation involves understanding the regulatory framework governing

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** SH. MANNI…; Sanjeev R…
- **Appellants:** SHRILL INVESTMENT…
- **Respondents:** Indo International…

## Timeline

- **2023-12-14 — Initiation of…**: The Adjudicating Authority initiated the liquidation process against M/s. Indo…
- **2023-12-14 — Appointment of…**: Mr. Umesh Garg was appointed as the liquidator for M/s. Indo International Tobacco…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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