# In the matter of Kaneria Granito Limited

> NCLT judgment dated 2024-04-19. Citation: TCN-2024-NCLT-01665. The case pertains to an application filed by the applicant/liquidator for the closure of the…

- **Court:** NCLT
- **Order date:** 19 Apr 2024
- **Citation:** TCN-2024-NCLT-01665
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kaneria-granito-limited-639d10aa

## Summary

### Background

The case pertains to an application filed by the applicant/liquidator for the closure of the liquidation process of Kaneria Granito Limited under Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016. The learned counsel for the applicant/liquidator filed a synopsis, which was taken on record.

## Facts

Bank of India Limited filed an application as the applicant/liquidator for the closure of the liquidation process of Kaneria Granito Limited. The application was filed under Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016. The learned counsel for the applicant/liquidator filed a synopsis, which was taken on record by the tribunal. The tribunal considered the prayers mentioned in the application and allowed the closure of the liquidation process.

## Issues and analysis

### Issue 1: Whether the application for closure of the liquidation process of Kaneria Granito Limited under …

**Ratio:** Regulation 45(3)(a) of the IBBI (Liquidation Process) Regulations, 2016 allows for the

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**Reasoning:** The tribunal considered the application, the records, and the synopsis submitted by the

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**Interpretation:** Regulation 45(3)(a) provides a mechanism for the liquidator to seek closure of

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**Application:** In this case, the applicant/liquidator applied for closure of the liquidation

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## Parties

- **Judges:** SHAMMI…; SAMEER…
- **Appellants:** Bank of India…
- **Respondents:** Kaneria Granito…

## Timeline

- **2024-04-18 — Synopsis…**: Learned Counsel for the applicant / liquidation filed a synopsis in the matter vide…
- **2024-04-19 — Order Del…**: Order delivered on 19/04/2024 allowing the…

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