# In the matter of P.l Vehicals Private Limited

> NCLT judgment dated 2024-06-12. Citation: TCN-2024-NCLT-01180. The case involves an application (IA (IBC)/69/GB/2024) in a corporate insolvency resolution…

- **Court:** NCLT
- **Order date:** 12 Jun 2024
- **Citation:** TCN-2024-NCLT-01180
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pl-vehicals-private-limited-be188475

## Summary

### Background

The case involves an application (IA (IBC)/69/GB/2024) in a corporate insolvency resolution process (CP (IB)/31/GB/2022) before the National Company Law Tribunal (NCLT), Guwahati Bench. The applicant is the successful auction purchaser of the corporate debtor. The liquidator has already issued a sale certificate on 20.01.2024.

## Facts

The applicant, represented by Ld. Counsel Mr. L. Ahmad B.F., is the successful auction purchaser of the Corporate Debtor. The liquidator has already issued a Sale Certificate on 20.01.2024. The application was filed in relation to the sale of the Corporate Debtor as a going concern. The prayers made in the application were found to be unnecessary by the court.

## Issues and analysis

### Issue 1: Whether the prayers made in the application are necessary given the issuance of the sale …

**Ratio:** When a liquidator has already issued a sale certificate, further prayers in an

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**Reasoning:** The court reasoned that since the liquidator had already issued the sale certificate, the

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**Interpretation:** The issuance of a sale certificate by the liquidator signifies the completion

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**Application:** In this case, the liquidator's issuance of the sale certificate on 20.01.2024

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## Parties

- **Judges:** H.V. Subb…; Satya Ranjan…
- **Appellants:** L. Ahmad B…
- **Respondents:** P. L. Vehicals…; A. Khaitan, CA,…

## Timeline

- **2024-01-20 — Sale Certifica…**: Liquidator issued the…
- **2024-06-12 — Hearing…**: Hearing on the application (IA…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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