# In the matter of Manjeera Retail Holdings Private Limited

> NCLT judgment dated 2024-11-18. Citation: TCN-2024-NCLT-00217. The case involves an application (IA (IBC)/373/2024) filed by the suspended director of…

- **Court:** NCLT
- **Order date:** 18 Nov 2024
- **Citation:** TCN-2024-NCLT-00217
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/manjeera-retail-holdings-private-limited-8af332e4

## Summary

### Background

The case involves an application (IA (IBC)/373/2024) filed by the suspended director of Manjeera Retail Holdings Private Limited (MRHPL) seeking consolidation of the Corporate Insolvency Resolution Process (CIRP) of MRHPL with that of its holding company, Manjeera Constructions Limited (MCL). Both companies are undergoing CIRP, initiated on 2023-07-18. The Resolution Plans approved by their respective Committees of Creditors (CoC) have been submitted by the common Resolution Professional (RP). The application was filed more than 180 days after the CIRP commenced.

## Facts

Manjeera Retail Holdings Private Limited (MRHPL) and its holding company, Manjeera Constructions Limited (MCL), are undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 2023-07-18. The suspended director of MRHPL filed an application (IA (IBC)/373/2024) seeking consolidation of the CIRPs of MRHPL and MCL. The Resolution Plans approved by their respective Committees of Creditors (CoC) have been submitted by the common Resolution Professional (RP). The application was filed more than 180 days after the CIRP commenced. Both Corporate Debtors received 46 Expressions of Interest (EoIs) each, with 4 Prospective Resolution Applicants submitting resolution plans for MCL and 8 for MRHPL. The CoC for MRHPL consists of 2 members, while the CoC for

…

## Issues and analysis

### Issue 1: Whether the application for consolidation of CIRP of Manjeera Retail Holdings Private Limited …

**Ratio:** The decision to consolidate, or not, rests with the CoCs, who are not only better

…

**Reasoning:** The court reasoned that the CoCs are the primary stakeholders in the CIRP and their

…

**Interpretation:** The court interpreted the Insolvency and Bankruptcy Code (IBC) as giving

…

**Application:** The court applied the ratio to the facts of the case, noting that the CoCs of

…

## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Gajjala Yo…
- **Respondents:** Manjeera Retail…; Catalyst Trusteesh…

## Timeline

- **2023-07-18 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated for both Manjeera Retail…
- **2024-02-12 — Application…**: Application (IA (IBC)/373/2024) filed by the suspended director of MRHPL seeking…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/manjeera-retail-holdings-private-limited-8af332e4