# In the matter of RAA International Limited

> NCLT judgment dated 2023-07-26. Citation: TCN-2023-NCLT-02332. An application under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with…

- **Court:** NCLT
- **Order date:** 26 Jul 2023
- **Citation:** TCN-2023-NCLT-02332
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/raa-international-limited-9769eb5b

## Summary

### Background

An application under Section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 44(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, has been filed. The application, IA(IBC)/121(KB)2023, is in relation to CP(IB)/371(KB)2019. The liquidator of M/s. RAA International Limited is seeking dissolution of the Corporate Debtor.

## Facts

Union Bank of India is the Financial Creditor. M/s. RAA International Limited is the Corporate Debtor, represented by its Liquidator, Mr. Partha Kamal Sen. The liquidator filed an application, IA(IBC)/121(KB)2023, under Section 54 of the Insolvency and Bankruptcy Code, 2016, seeking dissolution of the Corporate Debtor. The liquidator filed a supplementary affidavit, which lacked an affirmation date. The court directed the liquidator to file a fresh supplementary affidavit with the necessary documents.

## Issues and analysis

### Issue 1: Whether the application for dissolution of …

**Ratio:** Section 54 of the Insolvency and Bankruptcy Code, 2016, allows for the dissolution of a

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**Reasoning:** The court has not yet made a final decision on the dissolution of the Corporate Debtor.

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**Interpretation:** The interpretation of Section 54 involves determining whether the liquidation

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**Application:** The court will apply Section 54 to the facts of the case to determine whether

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## Parties

- **Judges:** BIDISHA BA…; Balraj…
- **Respondents:** M/s. RAA Internati…
- **Advocates:** Rachit La…; Siddhanth…

## Timeline

- **2023-07-26 — Date of H…**: Hearing held on…
- **2023-10-20 — Next Listin…**: Matter listed for further…

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