# In the matter of Arkcom Telecommunications Private Limited

> NCLT judgment dated 2023-07-25. Citation: TCN-2023-NCLT-05256. Arkcom Telecommunications Private Limited filed a Company Petition under Section 10 of the…

- **Court:** NCLT
- **Order date:** 25 Jul 2023
- **Citation:** TCN-2023-NCLT-05256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/arkcom-telecommunications-private-limited-938ca160

## Summary

### Background

Arkcom Telecommunications Private Limited filed a Company Petition under Section 10 of the Insolvency and Bankruptcy Code 2016 for initiation of Corporate Insolvency Resolution Process.

## Facts

Arkcom Telecommunications Private Limited filed a petition under Section 10 of the IBC, 2016.

The company commenced operations providing ISP services and obtained a license from DOT.

The company has not been doing any business activity since April 2020.

The Board of Directors proposed to move an application under Section 10 of the IBC in a meeting held on December 30, 2021.

The Board of Directors proposed to appoint CA Manmohan Sharma as Interim Resolution Professional.

The company defaulted on payments to creditors for over two years.

The NCLT admitted the petition and declared a moratorium.

Manmohan Sharma was appointed as the Interim Resolution Professional.

## Issues and analysis

### Issue 1: Whether the petition filed by Arkcom Telecommunications Private Limited under Section 10 of the IBC …

**Ratio:** The Corporate Applicant is not

…

**Reasoning:** The bench admitted the petition after determining that the Corporate Applicant was

…

**Interpretation:** Section 10 allows a corporate debtor to initiate CIRP if it meets the

…

**Application:** The NCLT applied Section 10 and Rule 7(1) of the Insolvency & Bankruptcy

…

## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Respondents:** Arkcom Telecommuni…
- **Other parties:** Manmohan…
- **Advocates:** Gaurav K. G…; Kamal L…; +4 more

## Timeline

- **2021-12-23 — Special Res…**: Approval of members obtained via Special Resolution in Extra Ordinary General Meeting to…
- **2021-12-30 — Board Me…**: Board of Directors proposed to move application under Section 10 of IBC and appoint CA…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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