# In the matter of Anagha Steel Marketing Limited

> NCLT judgment dated 2023-06-28. Citation: TCN-2023-NCLT-05401. The application I.A. 2704/2023 was filed in relation to C.P.(IB)-184(MB)/2022 concerning Anagha…

- **Court:** NCLT
- **Order date:** 28 Jun 2023
- **Citation:** TCN-2023-NCLT-05401
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/anagha-steel-marketing-limited-9ab5ad14

## Summary

### Background

The application I.A. 2704/2023 was filed in relation to C.P.(IB)-184(MB)/2022 concerning Anagha Steel Marketing Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on December 23, 2022. The Committee of Creditors (CoC) decided to liquidate the corporate debtor in its 8th meeting held on June 19, 2023.

## Facts

CIRP was initiated against Anagha Steel Marketing Limited on December 23, 2022.

Atul Mehta was appointed as the Interim Resolution Professional (IRP).

The CoC decided to liquidate the corporate debtor in its 8th meeting held on June 19, 2023, with 99.98% voting rights.

The Resolution Professional filed an application under Section 33 of the IBC, 2016, seeking initiation of liquidation.

The CIRP period ended on June 21, 2023, as per the order dated December 23rd.

Surendranath Nair is appointed as the liquidator.

## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Section 33 of the Insolvency

…

**Reasoning:** The CoC, with a 99.98% majority, decided to liquidate the Corporate Debtor. The Tribunal

…

**Interpretation:** The Tribunal interpreted Section 33 of the IBC, 2016, to allow for liquidation

…

**Application:** The Tribunal applied the provisions of Section 33 and the commercial wisdom of

…

## Parties

- **Judges:** H.V. Subb…; Madhu S…
- **Appellants:** Atul M…
- **Respondents:** Anagha Steel…
- **Other parties:** Hemant S…; Surendranat…
- **Advocates:** Shivani…

## Timeline

- **2022-12-23 — Initiation…**: Order for initiation of CIRP of the…
- **2023-01-13 — Public Annou…**: Applicant made a public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/anagha-steel-marketing-limited-9ab5ad14