# In the matter of Sri Maruti Wind Park (India) Private Limited

> NCLT judgment dated 2024-06-05. Citation: TCN-2024-NCLT-01228. The case involves an Interlocutory Application (IA-17/2024) filed in Company Petition…

- **Court:** NCLT
- **Order date:** 5 Jun 2024
- **Citation:** TCN-2024-NCLT-01228
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sri-maruti-wind-park-india-private-limited-dcaa0ec8

## Summary

### Background

The case involves an Interlocutory Application (IA-17/2024) filed in Company Petition CP(IB)-814/MB/2021 under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was originally filed by Suzlon Gujarat Wind Park Ltd., an Operational Creditor, against Sri Maruti Wind Park (India) Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. Nitin Om Kothari was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

## Facts

Suzlon Gujarat Wind Park Ltd. filed a petition under Section 9 of the IBC, 2016, against Sri Maruti Wind Park (India) Private Limited, leading to the initiation of CIRP. Nitin Om Kothari was appointed as IRP and later as RP. Public announcements were made to invite claims from creditors, and the Committee of Creditors (CoC) was formed. Despite multiple attempts, no resolution plan was approved by the CoC. The CIRP period was extended by 90 days, but no resolution plan was received. The CoC then voted for liquidation with 100% voting in favor. Prasad Kamalakar Dharap was proposed and approved as the Liquidator. The NCLT approved the liquidation, appointing Prasad Kamalakar Dharap as the Liquidator and outlining the process and responsibilities.

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Sri Maruti Wind Park (India) …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows for the liquidation of

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**Reasoning:** The CoC, in its 14th meeting, voted with 100% majority to liquidate the Corporate Debtor,

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**Interpretation:** Section 33(2) provides the legal basis for the CoC's decision to opt for

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**Application:** The CoC's decision, supported by the failure to receive any viable resolution

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## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** Nitin Om K…
- **Respondents:** Maruti Wind Park…; Suzlon Gujarat…

## Timeline

- **2023-02-09 — Tribunal…**: Tribunal ordered Company Petition bearing C.P.(IB)-814(MB)/2021 filed under Section 9 of…
- **2023-02-20 — Public Annou…**: Applicant issued public announcement in Form-A inviting claims from the creditors of the…

## Legal provisions

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

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