# In the matter of Trees Of Life Private Limited

> NCLT judgment dated 2024-04-26. Citation: TCN-2024-NCLT-01575. The Resolution Professional (RP) filed an application to dissolve the Corporate Debtor under…

- **Court:** NCLT
- **Order date:** 26 Apr 2024
- **Citation:** TCN-2024-NCLT-01575
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trees-of-life-private-limited-6ae8584d

## Summary

### Background

The Resolution Professional (RP) filed an application to dissolve the Corporate Debtor under Rule 11 of NCLT Rules. The Committee of Creditors (CoC) refused to fund the Corporate Insolvency Resolution Process (CIRP) cost. The Corporate Debtor's operations have been closed for over a year, there are no employees, no assets, and the registered office is closed. No Form-G was published to attract resolution applicants.

## Facts

The Resolution Professional filed an application (IA/1518/2024) to dissolve the Corporate Debtor. The Committee of Creditors (CoC) refused to fund the CIRP costs. The Corporate Debtor's operations have been closed for more than a year. There are no employees left with the Corporate Debtor. The company has no assets. The registered office of the Corporate Debtor is closed. No Resolution Applicant is likely to submit a Resolution Plan. No Form-G was published. The RP is to be discharged from responsibility by dissolving the Corporate Debtor without liquidation.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be dissolved without undergoing liquidation due to the CoC's …

**Ratio:** A Corporate Debtor can be dissolved without liquidation if the CoC refuses to fund the

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**Reasoning:** The court reasoned that continuing the CIRP would be futile given the CoC's refusal to

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**Interpretation:** The interpretation is that if a corporate debtor has no assets, no employees,

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** T. Choithram &…
- **Respondents:** TREE OF LIFE…

## Timeline

- **N/A — Application…**: The Resolution Professional filed an application to dissolve the Corporate Debtor under…
- **2024-04-26 — Order Del…**: The court disposed of the IA along with CP, allowing the dissolution of the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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