# In the matter of Kalundre Metaliks Pvt. Ltd.

> NCLT judgment dated 2024-04-02. Citation: TCN-2024-NCLT-01879. The case pertains to IA/1443/2024 in C.P. (IB)/685(MB)2022 before the National Company Law…

- **Court:** NCLT
- **Order date:** 2 Apr 2024
- **Citation:** TCN-2024-NCLT-01879
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kalundre-metaliks-pvt-ltd-78679919

## Summary

### Background

The case pertains to IA/1443/2024 in C.P. (IB)/685(MB)2022 before the National Company Law Tribunal, Mumbai Bench. The matter involves Prarthna Private Limited as the petitioner and Kalundre Metaliks Private Limited as the respondent. The application is filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

## Facts

Prarthna Private Limited filed a petition against Kalundre Metaliks Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. IA 1443 of 2024 was filed in relation to this petition. The resolution related to IA 1443 of 2024 was approved with more than 90% of the voting share. As a result, the IA was allowed, and the Corporate Petition (CP) along with all pending IAs were disposed of as withdrawn. The approval of the resolution with a high voting percentage is a key fact that led to the disposal of the case.

## Issues and analysis

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

**Ratio:** A resolution approved with a substantial majority (in this case, over 90%) indicates a

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**Reasoning:** The court's reasoning is based on the high percentage of approval for the resolution. A

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**Interpretation:** The interpretation is that a high voting percentage in favor of a resolution

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**Application:** In this specific case, the resolution related to IA 1443 of 2024 was approved

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** PRARTHNA PRIVATE…
- **Respondents:** KALUNDRE METALIKS…

## Timeline

- **2024-04-02 — Order Del…**: Order delivered on IA/1443/2024, allowing the IA and disposing of the CP along with all…

## 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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