# In the matter of Perfect Mobile and Communications Private Limited IA-1962-2023 in CP(IB)-1075-MB-2020

> NCLT judgment dated 2023-06-06. Citation: TCN-2023-NCLT-05491. An application was filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, by the…

- **Court:** NCLT
- **Order date:** 6 Jun 2023
- **Citation:** TCN-2023-NCLT-05491
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/perfect-mobile-and-communications-private-limited-ia-1962-2023-in-cpib-1075-mb-2-1a9abebe

## Summary

### Background

An application was filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, by the Liquidator, Mr. Mukesh Kumar Jain, seeking the dissolution of the Corporate Debtor, Perfect Mobile and Communications Private Limited.

## Facts

Mr. Mukesh Kumar Jain, appointed as Liquidator, filed an application under Section 54 of the IBC seeking dissolution of Perfect Mobile and Communications Private Limited.

The CIRP was initiated by Bathla Teletech Private Limited, an Operational Creditor, under Section 9 of the IBC.

No resolution plan was received during the CIRP period, leading to a decision by the CoC to liquidate the company.

The Adjudicating Authority approved the liquidation and appointed Mr. Mukesh Kumar Jain as the Liquidator.

Public announcements were made, and a Stakeholders Consultative Committee (SCC) was constituted.

The Liquidator realized a bank balance that was frozen by the VAT department.

The realized funds were utilized for unpaid CIRP expenses and liquidation costs.

…

## Issues and analysis

### Issue 1: Whether the liquidation process was conducted in accordance with the provisions of the Insolvency …

**Ratio:** The Adjudicating Authority observed that the Liquidator followed the due process of

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**Reasoning:** The Liquidator made public announcements, constituted a Stakeholders Consultative

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**Interpretation:** The actions taken by the Liquidator were consistent with the requirements of

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**Application:** The Adjudicating Authority applied the provisions of the IBC and related

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Mukesh Kuma…
- **Respondents:** Perfect Mobile…
- **Other parties:** Bathla Teletech…
- **Advocates:** Manoj M…

## Timeline

- **18.01.2023 — Application…**: Mr. Mukesh Kumar Jain, Liquidator, filed an application under Section 54 of the IBC for…
- **17.01.2022 — CIRP Admi…**: The Tribunal admitted the Company Petition filed by Bathla Teletech Private Limited and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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