# In the matter of ISR Infra Private Limited IA(IBC)-75-2022 in TCP (IB) No. 106-9-AMR-2019

> NCLT judgment dated 2023-01-10. Citation: TCN-2023-NCLT-05125. The case involves an application filed by the liquidator of ISR Infra Pvt. Ltd. under Section…

- **Court:** NCLT
- **Order date:** 10 Jan 2023
- **Citation:** TCN-2023-NCLT-05125
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/isr-infra-private-limited-iaibc-75-2022-in-tcp-ib-no-106-9-amr-2019-9845c8f4

## Summary

### Background

The case involves an application filed by the liquidator of ISR Infra Pvt. Ltd. under Section 35 read with Section 52 of the Insolvency and Bankruptcy Code (IBC), 2016. The liquidator sought directions from the NCLT to the respondents to remove metal boards installed by them at the site of the corporate debtor, ISR Infra Pvt. Ltd., which were obstructing the sale of the property. The liquidator also requested police protection if the respondents failed to comply with the removal of the boards. The Corporate Insolvency Resolution Process (CIRP) was initiated against ISR Infra Pvt. Ltd. by CMR Transport Company Pvt. Ltd., an operational creditor, and was admitted by the Tribunal on 09.09.2019. Subsequently, the CoC recommended liquidation of the corporate debtor, and the

…

## Facts

CMR Transport Company Pvt. Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against ISR Infra Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 09.09.2019. Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) consisted of a single financial creditor, Indian Overseas Bank. The CoC recommended liquidation after no resolution plan was received and the corporate debtor failed to make a One Time Settlement (OTS) payment. The Tribunal ordered liquidation on 10.05.2021, appointing Pradeep Kumar Sravanam as the liquidator. Sidhartha Civil Works Private Limited, an operational creditor who did not file a

…

## Issues and analysis

### Issue 1: Whether the respondents should be directed to remove the metal boards installed at the site of the …

**Ratio:** The Tribunal has the power to direct parties to take actions necessary for the

…

**Reasoning:** The Tribunal found the reasons mentioned in the application valid and convincing, noting

…

**Interpretation:** This issue involves the interpretation of the powers of the Tribunal under the

…

**Application:** The Tribunal applied the principle that obstructions to the sale of the

…

## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Pradeep Kumar…
- **Respondents:** ISR Infra P…; M/s.Sidhartha…

## Timeline

- **2019-09-09 — CIRP Admi…**: Corporate Insolvency Resolution Process (CIRP) initiated against ISR Infra Pvt. Ltd. and…
- **2019-09-14 — Publication of…**: Applicant made paper publication inviting claims from the creditors of the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 35 — Powers and duties of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-35)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/isr-infra-private-limited-iaibc-75-2022-in-tcp-ib-no-106-9-amr-2019-9845c8f4