In the matter of Denovo Enterprises Pvt. Ltd. I.A. 1382-2022 in C.P.(IB)-3911(MB)-2018
Case brief
What is this about?
The NCLT Mumbai Bench ordered the liquidation of Denovo Enterprises Pvt Ltd sua motu under Section 33(1)(b)(i) of the IBC after 900 days of stalled CIRP. The liquidator was appointed, prior directivities ceased, and Section 52 restrictions were invoked.
What did the court decide?
Liquidation of Denovo Enterprises Pvt Ltd ordered; Mahesh Kumar Gupta appointed Liquidator; directors' powers ceased.
What the court decided
NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH COURT III
33.I.A. 1382/2022
IN
C.P.(IB)-3911(MB)/2018
CORAM: SHRI H.V. SUBBA RAO, MEMBER (J) SHRI CHANDRA BHAN SINGH, MEMBER (T)
ORDER SHEET OF THE HEARING OF MUMBAI BENCH OF THE NATIONAL COMPANY LAW TRIBUNAL ON 06.06.2022
NAME OF THE PARTIES: Gopal Das Mittal
V/s.
Denovo Enterprises Pvt Ltd.
SECTION 9 OF INSOLVENCY AND BANKRUPTCY CODE, 2016
__________________________________________________________________________ ORDER
Mr. HemendraPaliwal, Resolution Professional in person along with his counsel, Mr. Deep Joshiare present through virtual hearing.
Issues for consideration
2 issues framed by the court
Whether the Tribunal can pass an order of liquidation sua motu under Section 33(1)(b)(i) of the Code without an application from the Committee of Creditors after the CIRP has remained incomplete for 9
Whether a fit case for liquidation has been established due to the failure to file a resolution plan or liquidation application within the statutory period.
Parties & counsel
- petitioner
Gopal Das Mittal
- respondent
Denovo Enterprises Pvt Ltd
Coram
H.V. Subba Rao
Case details
As recorded by the court registry
Similar cases
Judgements on the same questions, provisions and authorities, from every court