# In the matter of Jawan Construction Private Limited {IA (IBC) No. 344-JPR-2023 in CP No. (IB)-77-7-JPR-2021}

> NCLT judgment dated 2023-11-22. Citation: TCN-2023-NCLT-00639. The case pertains to an interim application (IA No. 344/JPR/2023) filed by the Resolution…

- **Court:** NCLT
- **Order date:** 22 Nov 2023
- **Citation:** TCN-2023-NCLT-00639
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jawan-construction-private-limited-ia-ibc-no-344-jpr-2023-in-cp-no-ib-77-7-jpr-2-2c2c4e6f

## Summary

### Background

The case pertains to an interim application (IA No. 344/JPR/2023) filed by the Resolution Professional (RP) for M/s Jawan Construction Private Limited ('Corporate Debtor') under Section 33 and Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking an order for liquidation. The Adjudicating Authority had admitted the application filed by M/s Rimura Finlease & Technology Limited under Section 7 of the Code for initiation of Corporate Insolvency Resolution Process ('CIRP') of the Corporate Debtor on 16.09.2022, and appointed Mr. Prashant Agrawal as Interim Resolution Professional ('IRP'). The CoC, in its third meeting held on 23.12.2022, deliberated on appointing 'IRP' as the Resolution Professional of the Corporate Debtor and unanimously appointed Mr.

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## Facts

M/s Rimura Finlease & Technology Limited initiated Corporate Insolvency Resolution Process (CIRP) against Jawan Construction Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application was admitted on 16.09.2022. Mr. Prashant Agrawal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed and convened meetings. An Expression of Interest (EOI) was issued to invite resolution plans, but no viable plan was received by the deadline of 14.01.2023. The CoC then decided to sell or scrap the M Sand Washing Plant to cover the CIRP costs. An E-Auction was conducted, but only one bid was received. The CIRP period was

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s Jawan Construction Private Limited, should be liquidated under …

**Ratio:** Section 33(1) of the IBC allows the Adjudicating Authority to order the liquidation of

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**Reasoning:** The Adjudicating Authority considered that no resolution plan was received despite

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**Interpretation:** Section 33(1) provides the legal basis for initiating liquidation when the CIRP

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**Application:** Since no resolution plan was received and the CoC resolved to liquidate,

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## Parties

- **Judges:** Deep Chandr…; RAJEEV ME…
- **Appellants:** Rimura Finlease…
- **Respondents:** Jawan Construction…

## Timeline

- **2021-01-01 — In CP No. (IB)-77/7/JPR/…**: The original CP number…
- **2022-09-16 — Admission of Application…**: The Adjudicating Authority admitted the Application filed by M/s Rimura Finlease &…

## Legal provisions

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

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