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IN THE NATIONAL COMPANY LAW TRIBUNAL

DIVISION BENCH (COURT– I) CHENNAI

ATTENDANCE CUM ORDER SHEET OF THE HEARING

HELD ON 28.08.2025 THROUGH VIDEO CONFERENCE

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PRESENT: HON'BLE SHRI SANJIV JAIN, MEMBER (JUDICIAL)

HON'BLE SHRI VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

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IN THE MATTER OF : Chandrasekhar Sagutoor (Liquidator)

(Juku Orchem Pvt. Ltd)

MAIN PETITION NUMBER : CP(IB)/748(CHE)/2018

(IA/MA) APPLICATION NUMBERS

IA(IBC)/1017(CHE)/2025

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ORDER IN THE NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH – I, CHENNAI In the matter of Juku Orchem Pvt Ltd IA(IBC)/1017(CHE)/2025 In CP(IB)/748(CHE)/2018 (Filed under Regulation 45 (3) (a) of IBBI (Liquidation Process) Regulation, 2016)

IA(IBC)/1017(CHE)/2025

Present: None for Applicant.

Vide separate Order pronounced in open Court, the liquidation process of the

Corporate Debtor is closed.

File be consigned to records.

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[VENKATARAMAN SUBRAMANIAM] [SANJIV JAIN]

MEMBER (TECHNICAL) MEMBER (JUDICIAL)

MS

Date: 28.08.2025

Mr. Chandrasekhar Sagutoor M/s. Liquidator of Juku Orchem Private Limited F4 & F5, First Floor, No.333/17 SVP Salma Arcade Complex Kodambakkam Main Road Trustpuram, Kodambakkam Chennai – 600 024.

. . . Applicant Order pronounced on 28th August, 2025 CORAM :

SANJIV JAIN, MEMBER (JUDICIAL)

VENKATARAMAN SUBRAMANIAM, MEMBER (TECHNICAL)

For Applicant: Bhagavath Krishnan, Anita. S, Akshayya. M, Girish Ramanatha. P, Advocates O R D E R (Heard through Hybrid Mode)

1. Under consideration is an application filed by the Liquidator of Juku Orchem Private Limited under Regulation 45(3) of the IBBI (Liquidation Process) Regulations, 2016 (hereinafter, Liquidation Regulations) seeking the following reliefs: -

a. Take the Final Report on record submitted by the Liquidator under Regulation 45(3) of the IBBI (Liquidation Process) Regulations, 2016;

and b. Consequently, pass appropriate orders for closure of the liquidation process of the Corporate Debtor – Juku Orchem Private Limited and relieve the liquidator from the assignment;

BRIEF FACTS OF THE CASE

2. It is stated that the Corporate Insolvency Resolution Process (CIRP) of Juku Orchem Private Limited (Corporate Debtor) commenced on 02.03.2021 vide order of this Tribunal in CP/748/IB/2018 and Mr. V.M. Gurusamy was appointed as the Interim Resolution Professional (“IRP”). Thereafter, the Committee of Creditors (“CoC”) in the 5th CoC meeting appointed the Applicant as the Resolution Professional (“RP”) and the same was confirmed by this Tribunal vide order dated

03.01.2022 in MA/121/(CHE)/2021.

3. It is stated that since no resolution plan was received during CIRP, the CoC decided to liquidate the Corporate Debtor. The Corporate Debtor was admitted to liquidation process vide order of this Tribunal dated 23.11.2022 in IA(IBC)/806(CHE)/2022 and the Applicant was appointed as the Liquidator.

4. It is stated that the erstwhile directors handed over the physical possession of Land and Building at Puzhuthivakkam Village only on 09.03.2024 after the order of this Tribunal dated 01.03.2024 vide EP(IBC)/2(CHE)2024 in IA/306/2023.

5. It is stated that the land admeasuring 33 Cents in Atchikadu Village, was sold to successful auction purchaser Mr. Murugesan vide auction held on 29.07.2023. Since a portion of 15 Cents of the said property was acquired by National Highways Authority of India, the right to pursue the same and receive the compensation from the Special Tahsildar, Marakkanam was given to Mr. C. Murugesan.

6. It is stated that the Corporate Debtor has been sold as a going concern vide e-auction held on 18.04.2024 to the successful auction purchaser M/s. Nandalala Indian Hair Private Limit