Allowed

In the matter of Hema Engineering Industries Ltd. CA-18-2023 & IA-2367-2023 in IB-900-ND-2020

NCLT16 Jun 2023

Case brief

AI extract

What is this about?

The Tribunal allowed an appeal and an application for condonation of delay. The court held that ends of justice require condoning a 218-day delay in filing a claim and directed the liquidator to reconsider the claim of Rs. 40,46,983/-.

What did the court decide?

Condonation of the 218-day delay in filing the claim and direction to the liquidator to reconsider the claim of Rs. 40,46,983/-.

In the matter of Hema Engineering Industries Ltd… — Insolvency and Bankruptcy | NCLT (2023)

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IN THE NATIONAL COMPANY LAW TRIBUNAL, NEW DELHI COURT-III

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Item No.02

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CA-18/2023 IA-2367/2023

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In IB-900(ND)/2020

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IN THE MATTER OF: P.R rolling Mills Pvt. Ltd. ……. Operational Creditor/Applicant

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Versus

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M/s. Hema Enginerring Industries Ltd .……. Corporate Debtor/Respondent AND

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IN THE MATTER OF:

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M. Ranjitham,

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Proprietor of M/s. Sri Lakshmi Srinivas Enterprises

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.... Appellant/Stakeholder-Creditor Versus

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Mr. Vikas Garg

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Liquidator for M/s Hema Engineering Industries Ltd.

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.... Respondent/ Liquidator

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SECTION U/s 9 IBC code 2016 Order pronounced on 16.06.2023

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CORAM:

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SHRI BACHU VENKAT BALARAM DAS, HON’BLE MEMBER (JUDICIAL) SHRI ATUL CHATURVEDI, HON’BLE MEMBER (TECHNICAL)

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PRESENT: For the Applicant : For the Respondent : ORDER

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Order pronounced in open court vide separate sheets. CA-18/2023 & IA-2367/2023 are allowed.

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Sd/Sd/(ATUL CHATURVEDI) (BACHU VENKAT BALARAM DAS) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI (COURT-III)

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Order under Section 42 of the Insolvency&Bankruptcy Code 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016.

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CA-18/2023IA-2367/2023

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IB-900/ND/2020

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IN THE MATTER OF:-

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P.R rolling Mills Pvt. Ltd. ……. Operational Creditor/Applicant

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Versus

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M/s. Hema Enginerring Industries Ltd.……. Corporate Debtor/Respondent AND

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IN THE MATTER OF:

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M. Ranjitham,

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Proprietor of M/s. Sri Lakshmi Srinivas Enterprises

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.... Appellant/Stakeholder-Creditor

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Versus

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Mr. Vikas Garg

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Liquidator for M/s Hema Engineering Industries Ltd.

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.... Respondent/ Liquidator

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Pronounced on:16.06.2023

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CORAM:- SHRI BACHU VENKAT BALARAM DAS, HON’BLE MEMBER (JUDICIAL) SHRI ATUL CHATURVEDI, HON’BLE MEMBER (TECHNICAL)

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APPEARANCE:-

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For the Applicant : Adv. M A Chinnasamy, Adv. C. Rubavathi, Adv. M. Veeraragavan in C A No.18/20 For the Liquidator : Mr. Vishal Ganda, Ms. Akanksha Mathur, Ms. Tanya Hasija,Ms. Devina Bhandari, Advs.

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CA-18/2023 IA-2367/2023InIB-900/ND/2020 Date of order 16.06.2023

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ORDER

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PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)

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This is an appeal filed under Section 42 of the IB Code, 2016 read with Rule 11 of the NCLT Rules, 2016 filed against the decision of the Liquidator, dated 30.01.2023 rejecting the claims of M/s Shri Lakhsmi Srinivas Enterprises.

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It is submitted by the Ld. Counsel appearing for the Applicant that the Liquidator has rejected the claim filed by the Applicant on the ground of delay of 218 days in submitting the claim in Form-C.

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We have heard the submissions of Ld. Counsel appearing for the Applicant as well as the Ld. Counsel appearing for the Liquidator.In order tomeet ends of justice, we deem it appropriate to condone the delay and direct the Liquidator to reconsider the claim of Rs. 40,46,983/- as prayed for by the Applicant in accordance with law.

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CA-18/2023 is allowed .

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IA-2367/2023:-

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This application has been filed seeking condonation of delay in filing the CA No. 18/2023. Considering the facts and circumstances of the case and to meet the ends of justice the delay is condoned and IA is allowed.

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Sd/-

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Sd/-

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(ATUL CHATURVEDI) (BACHU VENKAT BALARAM DAS) MEMBER (TECHNICAL) MEMBER (JUDICIAL)

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CA-18/2023 IA-2367/2023InIB-900/ND/2020 Date of order 16.06.2023

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In the matter of Hema Engineering Industries Ltd. CA-18-2023 & IA-2367-2023 in IB-900-ND-2020

Case brief

What is this about?

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In the matter of Hema Engineering Industries Ltd. CA-18-2023 & IA-2367-2023 in IB-900-ND-2020

Case brief

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