# In the matter of Trivandrum International Health Services Limited IA(IBC)49-KOB-2022 i IBA-51-KOB-2021

> NCLT judgment dated 2022-06-02. Citation: TCN-2022-NCLT-02475. The case involves an application filed under Section 33(1)(a) of the I&B Code, 2016, for the…

- **Court:** NCLT
- **Order date:** 2 Jun 2022
- **Citation:** TCN-2022-NCLT-02475
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trivandrum-international-health-services-limited-iaibc49-kob-2022-i-iba-51-kob-2-a0c86d7d

## Summary

### Background

The case involves an application filed under Section 33(1)(a) of the I&B Code, 2016, for the initiation of the liquidation process of Trivandrum International Health Services Limited, the Corporate Debtor. The application was filed by the Resolution Professional, Mr. Raju Palanilkunathil Kesavan. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the financial creditor, Dhanlaxmi Bank Limited. Despite attempts to find a resolution plan, including multiple meetings of the Committee of Creditors (CoC) and consideration of various resolution plans submitted by prospective resolution applicants, none of the plans received the requisite voting consent. The CoC ultimately resolved to liquidate the Corporate Debtor.

## Facts

Dhanlaxmi Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Trivandrum International Health Services Limited. Raju Palanilkunathil Kesavan was appointed as the Resolution Professional. The Committee of Creditors (CoC) included Kerala Financial Corporation, State Bank of India, and Dhanlaxmi Bank Limited. Several resolution plans were submitted, including one by Dr. C Bharath Chandran, but none received the required 66% voting consent. The CoC resolved to liquidate the Corporate Debtor. Dr. C Bharath Chandran attempted to submit a joint resolution plan with Sabine Hospital and Research Centre Private Limited, but they were unable to resolve legal intricacies. The CoC voted with 100% voting right to recommend for liquidation of the Corporate

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Trivandrum International Health Services Limited, should be …

**Ratio:** Section 33(1) of the I&B Code, 2016, empowers the Adjudicating Authority to order the

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**Reasoning:** The Tribunal noted that despite multiple opportunities and extensions, no resolution plan

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**Interpretation:** Section 33(1) provides a clear mandate for liquidation when the CIRP fails to

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**Application:** In this case, the Tribunal applied Section 33(1) because no resolution plan was

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## Parties

- **Judges:** Ashok Kumar…; SHRI. ANIL…
- **Respondents:** Trivandrum…

## Timeline

- **2020-02-07 — CIRP Init…**: Tribunal admitted the application filed by Dhanlaxmi Bank Limited and initiated Corporate…
- **2020-02-12 — Public Annou…**: The Applicant published a public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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