# In the matter of Alfara’a Infraprojects Pvt. Ltd. IA. No.927 of 2020 in C.P.No.(IB)4533(MB) of 2018

> NCLT judgment dated 2022-07-18. Citation: TCN-2022-NCLT-04582. The application I.A. No. 927/2020 was filed by the Resolution Professional, Mr. Abhay…

- **Court:** NCLT
- **Order date:** 18 Jul 2022
- **Citation:** TCN-2022-NCLT-04582
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/alfaraa-infraprojects-pvt-ltd-ia-no927-of-2020-in-cpnoib4533mb-of-2018-5032bd79

## Summary

### Background

The application I.A. No. 927/2020 was filed by the Resolution Professional, Mr. Abhay Manudhane, seeking liquidation of Alfara'a Infraprojects Pvt. Ltd. under Section 33(1) of the Insolvency and Bankruptcy Code, 2016.

## Facts

The application I.A. No. 927/2020 was filed by the Resolution Professional, Mr. Abhay Manudhane, seeking liquidation of Alfara'a Infraprojects Pvt. Ltd.

The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following the admission of a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor.

The Committee of Creditors (CoC) unanimously approved the liquidation of the Corporate Debtor in its meeting held on March 3, 2020, as the 330-day period was about to elapse and no resolution plan was received.

The CoC rejected the appointment of the present applicant as the Liquidator and requested the bench to appoint a Liquidator from the panel of the IBBI.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Alfara'a Infraprojects Pvt. Ltd., …

**Ratio:** Section 33(1)(a) of the

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**Reasoning:** The CoC approved the liquidation of the Corporate Debtor as no resolution plan was

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**Interpretation:** The Tribunal considered the CoC's decision and the provisions of the Code to

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**Application:** The Tribunal allowed the application and ordered the liquidation of the

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## Parties

- **Judges:** H.V. Subb…; ANURADHA SANJAY…
- **Appellants:** MITC Rolling…; Abhay Man…
- **Respondents:** Alfara'a Infraproj…
- **Other parties:** Anish G…; Praful Raghunath…
- **Advocates:** Ankit L…; Sankalp A…; +3 more

## Timeline

- **2019-04-12 — Admission of Company…**: The company petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by…
- **2019-05-14 — Appointment of…**: In the first meeting of the Committee of Creditors (CoC), the Applicant was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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