# In the matter of Yescom India Softech Private Limited

> NCLT judgment dated 2024-04-09. Citation: TCN-2024-NCLT-01782. Reliance Broadcast Network Limited initiated Corporate Insolvency Resolution Process (CIRP)…

- **Court:** NCLT
- **Order date:** 9 Apr 2024
- **Citation:** TCN-2024-NCLT-01782
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/yescom-india-softech-private-limited-b51616d7

## Summary

### Background

Reliance Broadcast Network Limited initiated Corporate Insolvency Resolution Process (CIRP) against Yescom India Softech Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on May 1, 2023. An Interim Resolution Professional (IRP), Mr. S. V. Ramani, was appointed. Public announcement was made inviting claims from creditors. Despite communications, the suspended directors of the Corporate Debtor did not provide necessary documents or attend meetings. The IRP filed an application for non-cooperation. The Committee of Creditors (CoC) approved the appointment of Mr. S. V. Ramani as the Resolution Professional. A settlement proposal was made but not fulfilled. The CoC decided to liquidate the Corporate Debtor. The

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## Facts

Reliance Broadcast Network Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Yescom India Softech Private Limited (Corporate Debtor). The application was admitted on May 1, 2023, and Mr. S. V. Ramani was appointed as the Interim Resolution Professional (IRP). A public announcement was made on May 19, 2023, inviting claims from creditors. The Committee of Creditors (CoC) was formed with Reliance Broadcast Network Limited as the sole member, holding 100% voting share. Despite communications, the suspended directors of the Corporate Debtor did not provide necessary documents or attend meetings. The IRP filed an application for non-cooperation.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Yescom India Softech Private Limited, should be liquidated under …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, mandates the Adjudicating

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**Reasoning:** The court reasoned that the CIRP failed due to the non-cooperation of the suspended

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**Interpretation:** Section 33(1) is interpreted to mean that if a resolution plan is not approved

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

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## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Appellants:** Reliance Broadcast…
- **Respondents:** Yescom India…

## Timeline

- **2020-01-01 — C.P. (IB)/618…**: The case C.P. (IB)/618(KB)2020 was filed before the Tribunal for initiating Corporate…
- **2023-05-01 — Admission of Ap…**: The application bearing C.P.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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