# In the matter of Kumar Aquatech Agencies Pvt. Ltd. IA (IBC) 1100 & 1398-2022 & IA (IBC) 164 & 163-2023 in Company Petition IB-275-2021

> NCLT judgment dated 2023-02-13. Citation: TCN-2023-NCLT-04618. The case involves an application to set aside an earlier order dated 09.12.2022, where the…

- **Court:** NCLT
- **Order date:** 13 Feb 2023
- **Citation:** TCN-2023-NCLT-04618
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kumar-aquatech-agencies-pvt-ltd-ia-ibc-1100-1398-2022-ia-ibc-164-163-2023-in-com-d9b54e55

## Summary

### Background

The case involves an application to set aside an earlier order dated 09.12.2022, where the Tribunal had set the suspended management of the Applicant as ex-parte. Additionally, an application (IA No.1398/2023) was filed by the Resolution Professional (RP) seeking initiation of liquidation of the corporate debtor, contending that Form-G has been published and no resolution plan was received within the stipulated time. The Corporate Debtor is not having any assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor and directed the applicant to file an application under Section 33 (1)(a) of the Code.

## Facts

Gayatri Sea Foods and Feeds Pvt Ltd filed a case against Kumar Aquatech Agencies Pvt Ltd. The Tribunal had previously set the suspended management of the Applicant as ex-parte. The RP filed an application seeking initiation of liquidation of the corporate debtor, Kumar Aquatech Agencies Pvt Ltd, because Form-G was published, and no resolution plan was received within the stipulated time. The Corporate Debtor has no assets. The CoC members unanimously agreed with 100% voting for liquidation of the Corporate Debtor. The applicant undertook to file Vakalat for suspended management, though he was about to file Vakalat by 09.12.2022, on account of illness of his mother, which resulted in setting the suspended management as ex-parte.

## Issues and analysis

### Issue 1: Whether the order dated 09.12.2022 setting the respondents/Suspended management as ex-parte should …

**Ratio:** The principle is that orders passed ex-parte can be set aside if sufficient cause is

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**Reasoning:** The court considered the submission of the counsel for the applicant that he was unable

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**Interpretation:** This issue involves the interpretation of procedural fairness and the right to

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**Application:** The court applied the principle by accepting the explanation for the

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Gayatri Sea Foods…; Gayatri Sea Foods…
- **Respondents:** Kumar Aquatech…

## Timeline

- **2022-11-15 — 3rd COC M…**: The members discussed and deliberated the facts and unanimously agreed with 100% voting…
- **2022-12-09 — Order Setting Suspended…**: Tribunal set the suspended management…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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