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IN THE NATIONAL COMPANY LAW TRIBUNAL
ALLAHABAD BENCH, PRAYAGRAJ
IA No.73/ALD/2021
in
CP (IB) No.45/ALD/2019
In the matter of:
An application under section 33(2) of the Insolvency and Bankruptcy Code, 2016.
In the matter of:
Nitin Jain & another
…
Financial Creditor
Versus
Ratandeep Infrastructure Private Limited …
Corporate Debtor
And
In the matter of:
Alok Kumar Kuchhal
(RP of Ratandeep Infrastructure Private Limited)
...Applicant
Coram:
Shri Rajasekhar V.K.
:
Member (Judicial)
Shri Balraj Joshi
:
Member (Technical)
Appearances (through video conference):
For the Applicant/RP
:
Mr Alok Kumar Kuchhal
RP in person
Date of hearing: 04 January 2022
Date of pronouncement: 31 January 2022
ORDER
Per:
Balraj Joshi, Member (Technical)
1. This court convened via video conferencing.
2. This is an application filed by the Resolution Professional (‘RP’) upon the
instructions of the Committee of Creditors (‘CoC’) seeking liquidation of the
Corporate Debtor, viz., Ratandeep Infrastructure Private Limited
[CIN: U45400UP2012PTC050971], on the ground that no resolution plan
was received. The Applicant has sought for the following reliefs:
IN THE NATIONAL COMPANY LAW TRIBUNAL
ALLAHABAD BENCH, PRAYAGRAJ
In Re liquidation of Ratandeep Infrastructure Private Limited
IA No.73/2021 in CP (IB) No.45/ALD/2019
Page 2 of 4
a. Pass an order under section 33(1) of the Insolvency & Bankruptcy Code,
2016 for liquidation of the Corporate Debtor i.e., Ratandeep Infrastructure
Private Limited.
b. Pass an order for appointment of present Resolution Professional as
liquidator in respect of the Corporate Debtor.
3. This Adjudicating Authority, vide its order dated 16.04.2019 on a Petition
filed by Nitin Jain & Anr (‘Financial Creditors’) under section 7 of the
Insolvency and Bankruptcy Code, 2016 (‘the Code’), directed initiation of the
Corporate Insolvency Resolution Process (‘CIRP’) against the Corporate
Debtor and appointed Mr. Alok Kumar Kuchhal as the Interim Resolution
Professional (‘IRP’) who was later confirmed as Resolution Professional
(‘RP’), by the CoC, as recorded by this Adjudicating Authority vide Order
dated 11.06.2020.
4. RP had carried out the CIRP according to the provisions of IBC and filed
progress reports. The Applicant further submits that the CIRP had expired on
13.10.2019, subsequent to which the RP had moved an application for
extension of 90 days which was not allowed by this Adjudicating Authority
vide order dated 07.01.2021.
5. On 28.01.2021, in the 6th meeting of the CoC, it was resolved that as there are
no possible ways for revival of corporate debtor. Therefore, the CoC with
100% voting share recommended for liquidation of the Corporate Debtor and
to appoint Mr. Alok Kumar Kuchhal as liquidator.
6. Hence, the RP has filed the present application under section 33(1) of the
Code, before this Adjudicating Authority for liquidation of the Corporate
Debtor and appointment of RP as liquidator. The RP has given his consent to
act as liquidator which is placed at Pg.29 of the present application. He is
stated to have a valid authorization for assignment.
7. This Bench, therefore, hereby orders as follows: -
IN THE NATIONAL COMPANY LAW TRIBUNAL
ALLAHABAD BENCH, PRAYAGRAJ
In Re liquidation of Ratandeep Infrastructure Private Limited
IA No.73/2021 in CP (IB) No.45/ALD/2019
Page 3 of 4
a. Prayers as sought for in I.A.No. 73/2021 filed by Mr. Alok Kumar Kuchhal
RP of Ratandeep Infrastructure Private Limited, the Corporate Debtor, is
allowed and the Corporate Debtor is ordered to be liquidated in terms of
section 33(2) of the Code read with sub-section (1) thereof;
b. Mr Alok Kumar Kucchal [Reg No IBBI/IPA-002/IP-N00114/2017-18/
10284]; Email: akkuchhal.ip@gmail.com; Mobile No.+91-98108 94275,
Address: C-154, Sector-51, Noida-201301; whose name has been proposed
by CoC is hereby appointed as liquidato
