# In the matter of Resolution Capital Global Pvt. Ltd.

> NCLT judgment dated 2024-06-03. Citation: TCN-2024-NCLT-01262. The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi,…

- **Court:** NCLT
- **Order date:** 3 Jun 2024
- **Citation:** TCN-2024-NCLT-01262
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/resolution-capital-global-pvt-ltd-c35a5e0f

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi, concerning Grant Thornton Bharat LLP as the applicant/petitioner and Resolution Capital Global Pvt Ltd as the respondent. The order was issued under Section 433(e)/433(f) of the Companies Act, 1956. The matter was initially posted for dismissal. The applicant was previously directed to upload Form-1 as per Rule 4 of The Insolvency & Bankruptcy Code (Application to Adjudicating Authority) Rules, 2016.

## Facts

Grant Thornton Bharat LLP filed a case against Resolution Capital Global Pvt Ltd. The case was before the National Company Law Tribunal (NCLT), New Delhi. The matter was initially listed for dismissal. The applicant, Grant Thornton Bharat LLP, was directed to upload Form-1 as per Rule 4 of The Insolvency & Bankruptcy Code (Application to Adjudicating Authority) Rules, 2016. The applicant's counsel, Mr. Syed Sarfaraz, appeared and stated that he is an Operational Creditor and would upload the form. The Tribunal requested the IBBI to make relevant provisions in the CIRP regulations to deal with cases pertaining to the winding up of companies transferred under Section 433(1) of the Companies Act, 2013, to be taken up as an application for initiation of CIRP under IBC,

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## Issues and analysis

### Issue 1: Whether the applicant, Grant Thornton Bharat LLP, complied with the procedural requirements of …

**Ratio:** Compliance with procedural rules is essential for the proper adjudication of cases under

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**Reasoning:** The Tribunal directed the applicant to upload Form-1, indicating the importance of

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**Interpretation:** The interpretation involves ensuring that the applicant follows the correct

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**Application:** The applicant, Grant Thornton Bharat LLP, was required to upload Form-1 to

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## Parties

- **Judges:** Ramalingam…; Sh. Avinash K.…
- **Appellants:** Grant Thornton…
- **Respondents:** Resolution…

## Timeline

- **2024-05-20 — Direction to Upload…**: The Tribunal directed the applicant to upload Form-1 as prescribed under Rule 4 of The…
- **2024-06-03 — Order Del…**: Order delivered on…

## 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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