# In the matter of Kalundre Metaliks Private Limited

> NCLT judgment dated 2024-04-02. Citation: TCN-2024-NCLT-01886. The case involves an application filed under section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 2 Apr 2024
- **Citation:** TCN-2024-NCLT-01886
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kalundre-metaliks-private-limited-72fddfbf

## Summary

### Background

The case involves an application filed under section 9 of the Insolvency and Bankruptcy Code, 2016, which was subsequently allowed due to the approval of a resolution plan with over 90% voting.

## Facts

The matter before the National Company Law Tribunal, Mumbai Bench, concerned an application filed under section 9 of the Insolvency and Bankruptcy Code, 2016. This application, identified as IA 1443 of 2024, was part of a larger Company Petition (CP (IB)/685(MB)2022) involving Prarthna Private Limited as the petitioner and Kalundre Metaliks Private Limited as the respondent. The proceedings were heard by a bench comprising Ms. Reeta Kohli, Member (Judicial), and Ms. Madhu Sinha, Member (Technical).

## Issues and analysis

### Issue 1: Whether IA 1443 of 2024 should be allowed given the approval of the resolution with more than 90% …

**Ratio:** An application (IA) can be allowed and the main petition (CP) disposed of as withdrawn if

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**Reasoning:** The tribunal reasoned that the overwhelming approval of the resolution, evidenced by more

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**Interpretation:** The court interpreted the high voting percentage as a clear mandate for the

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**Application:** Given that the resolution had received over 90% of the votes, the tribunal

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** PRARTHNA PRIVATE…
- **Respondents:** KALUNDRE METALIKS…
- **Advocates:** for the App…; For the Respondent…

## Timeline

- **April 2, 2024 — Order Del…**: The National Company Law Tribunal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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