# In the matter of Neuromed Imaging Centre Private Limited

> NCLT judgment dated 2024-07-25. Citation: TCN-2024-NCLT-00956. The case pertains to an application filed by the liquidator, Umesh Harjivandas Ved, of Neuromed…

- **Court:** NCLT
- **Order date:** 25 Jul 2024
- **Citation:** TCN-2024-NCLT-00956
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/neuromed-imaging-centre-private-limited-2eede3b4

## Summary

### Background

The case pertains to an application filed by the liquidator, Umesh Harjivandas Ved, of Neuromed Imaging Centre Private Limited, the Corporate Debtor, under Section 54 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 45 of the IBBI (Liquidation Process) Regulations, 2016, seeking the dissolution of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Neuromed Imaging Centre Private Limited based on an application filed by the financial creditor, Mahaveer Transport, under Section 7 of the IBC, 2016. The CIRP was admitted on 12.07.2019, and Anjali Nirav Choksi was appointed as the Interim Resolution Professional (IRP). Subsequently, Umesh Harjivandas Ved replaced the IRP on 01.01.2020, following a decision

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## Facts

Mahaveer Transport, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Neuromed Imaging Centre Private Limited by filing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 12.07.2019. Anjali Nirav Choksi was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was formed and decided on 05.10.2019 to replace the IRP with Umesh Harjivandas Ved. This was allowed on 01.01.2020. On 17.02.2020, the CoC resolved to liquidate the corporate debtor due to the absence of any resolution plan. The liquidator, Umesh Harjivandas Ved, filed an interlocutory application no 491 of 2020 under sections 33 and 34 of the IBC, which was allowed on 07.09.2020.

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor should be approved under Section 54 …

**Ratio:** The application for dissolution under Section 54 of the IBC requires compliance with the

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**Reasoning:** The Adjudicating Authority observed that the liquidator failed to annex the Final Report

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**Interpretation:** Section 54 of the IBC, along with Regulation 45 of the IBBI (Liquidation

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**Application:** In this case, the liquidator's failure to include the Final Report and Sale

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Umesh Harjivandas…
- **Respondents:** Neuromed Imaging…
- **Advocates:** Arjun S…; Rajiv C…

## Timeline

- **2019-07-12 — CIRP Admi…**: Corporate Insolvency Resolution Process (CIRP) was admitted against Neuromed Imaging…
- **2019-07-12 — Appointment…**: Ms. Anjali Nirav Choksi was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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