Shomuk Consultancy Services Private Limited Vs Jitendra Lohia (NCLT Kolkata)
NCLT Kolkata held that the Corporate Debtor, Shomuk Consultancy Services Private Limited, is ordered to be liquidated in terms of Section 33(1) of the Insolvency and Bankruptcy Code since the statutory period for the CIRP has been exhausted, and no resolution plan has been received.
Facts- Pursuant to the order dated 11th June, 2024 of this Tribunal, Corporate Insolvency Resolution Process (CIRP) was initiated upon the Corporate Debtor. Vide the said order dated 11thJune, 2024, the Applicant was appointed as the Interim Resolution Professional (IRP). However, since there was no resolution plan, the present application has been preferred seeking relief from Tribunal to pass an order requiring the corporate debtor to be liquidated.
Conclusion- Held that in the present case, the statutory period for the CIRP has been exhausted, and no resolution plan has been received, therefore, applicant after the approval of the COC member prefers to file an application under section 33 (1) (a) as decided by the CoC, before this Tribunal seeking an order requiring the Corporate Debtor to be liquidated in the manner as laid in the Chapter III of IBC 2016. Thus, prayers as sought by the present application is allowed and Shomuk Consultancy Services Private Limited, the Corporate Debtor is ordered to be liquidated in terms of Section 33(1) of the Code.
