# 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-05483. The case involves an application filed under Section 54 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 6 Jun 2023
- **Citation:** TCN-2023-NCLT-05483
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/perfect-mobile-and-communications-private-limited-ia-1962-2023-in-cpib-1075-mb-2-640dcf12

## Summary

### Background

The case involves an application 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 Insolvency and Bankruptcy Code, 2016, seeking dissolution of Perfect Mobile and Communications Private Limited.

The Corporate Insolvency Resolution Process (CIRP) was initiated by Bathla Teletech Private Limited, an Operational Creditor, under Section 9 of the Code.

No resolution plan was received during the CIRP period, and the CoC resolved to liquidate the company with a 99.50% vote.

The Adjudicating Authority allowed the application seeking liquidation and appointed Mr. Mukesh Kumar Jain as Liquidator.

The Liquidator published public announcements in Form B in English and Marathi newspapers and on the IBBI website.

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## Issues and analysis

### Issue 1: Whether the application for dissolution of the Corporate Debtor under Section 54 of the Insolvency …

**Ratio:** Section 54 of the IBC allows for the dissolution of a corporate debtor after the

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**Reasoning:** The Liquidator has filed the application after completing the liquidation process, and

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**Interpretation:** The Tribunal interprets Section 54 to allow for dissolution when the

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**Application:** The Tribunal applied Section 54 and

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Mukesh Kuma…
- **Respondents:** Perfect Mobile…
- **Other parties:** Bathla Teletech…; Dept. of State…; +2 more
- **Advocates:** Manoj M…

## Timeline

- **2023-06-06 — Order Pron…**: Order Pronounced on:…
- **2023-01-18 — Application…**: Application filed under Section 54 of the Insolvency and Bankruptcy Code, 2016, on…

## 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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