# In the matter of Perfect Mobiles and Communications Pvt. Ltd. IA No. 1433-2022 in CP (IB) No.1075-MB-C-IV-2020

> NCLT judgment dated 2022-08-24. Citation: TCN-2022-NCLT-01296. The case pertains to an application filed by Mr. Mukesh Jain, the Resolution Professional,…

- **Court:** NCLT
- **Order date:** 24 Aug 2022
- **Citation:** TCN-2022-NCLT-01296
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/perfect-mobiles-and-communications-pvt-ltd-ia-no-1433-2022-in-cp-ib-no1075-mb-c-49bdfa56

## Summary

### Background

The case pertains to an application filed by Mr. Mukesh Jain, the Resolution Professional, seeking liquidation of Perfect Mobile & Communication Private Limited, referred to as the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following an order dated 07.01.2022, where the petition filed by Bathla Teletech Private Limited, the Operational Creditor, was admitted under Section 9 of the Insolvency and Bankruptcy Code, 2016. The applicant was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.

## Facts

On 07.01.2022, the Tribunal admitted a petition filed by Bathla Teletech Private Limited under Section 9 of the Insolvency and Bankruptcy Code, initiating CIRP against Perfect Mobile & Communication Private Limited. Mr. Mukesh Jain was appointed as the Interim Resolution Professional (IRP). Public announcements were made on 13.01.2022, inviting claims from creditors. Two claims were received, including one from the Deputy Commissioner of State Tax, Mumbai, and another from the Commercial Tax Officer, DGSTO-1 Bengaluru. The CoC confirmed the appointment of Mr. Mukesh Jain as the Resolution Professional (RP) on 11.02.2022. A claim was received from the Dy. Commissioner of Income Tax after the first CoC meeting. Form-G was published on 22.03.2022, but no prospective

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## Issues and analysis

### Issue 1: Whether the application for liquidation of Perfect Mobile & Communication Private Limited …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of

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**Reasoning:** The CoC, with a 99.50% majority, resolved for the liquidation of the Corporate Debtor.

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**Interpretation:** Section 33(1) provides the legal basis for initiating liquidation when the CoC

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**Application:** The CoC's decision to liquidate the Corporate Debtor, coupled with the lack of

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## Parties

- **Judges:** Manoj Kumar…; KISHORE VEMULAPALL…
- **Appellants:** Mukesh…
- **Respondents:** Perfect Mobile &…; Bathla Teletech…

## Timeline

- **2022-01-07 — Order for CIRP…**: Tribunal admitted the petition filed by Bathla Teletech Private Limited under Section 9…
- **2022-01-13 — Public Annou…**: Public announcements were made…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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