# In the matter of Mithila Cars Private Limited

> NCLT judgment dated 2024-02-05. Citation: TCN-2024-NCLT-02772. The application, I.A. 338/2024, was filed for the replacement of Respondent No. 2. The…

- **Court:** NCLT
- **Order date:** 5 Feb 2024
- **Citation:** TCN-2024-NCLT-02772
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mithila-cars-private-limited-1f1b7986

## Summary

### Background

The application, I.A. 338/2024, was filed for the replacement of Respondent No. 2. The applicant's counsel stated that Respondent No. 2 is exiting cordially, having tendered all pending dues of Rs. 2,36,000. The applicant also submitted that there are no dues pending for the present liquidator and placed on record the certificate of registration of the proposed liquidator.

## Facts

The key facts are as follows: An application (I.A. 338/2024) was filed for the replacement of Respondent No. 2. The applicant's counsel submitted that Respondent No. 2 is exiting cordially and has already paid all pending dues amounting to Rs. 2,36,000. The applicant also stated that there are no pending dues for the current liquidator and submitted the registration certificate of the proposed liquidator. The relevance of these facts is that they demonstrate a resolution of outstanding financial obligations and a clear path for the replacement of the respondent.

## Issues and analysis

### Issue 1: Whether the application for replacement …

**Ratio:** The court has the discretion to allow or disallow applications based on the merits of the

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**Reasoning:** The court reasoned that the applicant's submissions, including the payment of pending

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**Interpretation:** This issue involves the interpretation of the court's power to manage

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**Application:** In this specific case, the ratio and reasoning were applied to the facts

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** ABHYUDAYA…
- **Respondents:** Mithila Cars Pvt.…

## Timeline

- **2024-02-05 — Order Del…**: Order delivered on the application for…

## 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)

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