# In the matter of Union of India vs. OCL Iron and Steel Limited & Ors. > HC judgment dated 22 Oct 2024. Citation: TCN-2024-HC-00017. The present appeal was filed by the Union of India, challenging a judgment dated July 26, 2024,… - **Court:** HC - **Order date:** 22 Oct 2024 - **Citation:** TCN-2024-HC-00017 - **Category:** IBC - **Source page:** https://caseease.in/cases/ibc/gauhati-high-court-kohima/union-of-india-vs-ocl-iron-and-steel-limited-ors-f616e2ea ## Summary ### Background The present appeal was filed by the Union of India, challenging a judgment dated July 26, 2024, passed by a Single Judge of the Delhi High Court. The Single Judge had allowed a writ petition filed by OCL Iron and Steel Limited, the respondent, which had challenged the appellant's decision to debar it from participating in coal mine auctions. The core of the dispute originated from a Coal Mine Development and Production Agreement executed between the respondent and the appellant on March 2, 2015, for the Ardhagram coal mine. This agreement included a clause, Clause 24.3.3, allowing for the forfeiture of a Performance Bank Guarantee (PBG) if the agreement was terminated by the respondent. … ## Facts OCL Iron and Steel Ltd. (respondent), now managed by "HI A MMT Pvt. Ltd.", entered into a Coal Mine Development and Production Agreement with the Union of India (appellant) on March 2, 2015. This agreement concerned the allocation and development of the Ardhagram coal mine. A crucial provision, Clause 24.3.3, stipulated the forfeiture of the Performance Bank Guarantee (PBG) if the agreement was terminated by the respondent. … ## Issues and analysis ### Issue 1: Whether the claims of the appellant, particularly the Rs. 92.25 crore claim related to the… **Ratio:** A claim that is not properly submitted or re-submitted to the Resolution Professional… **Reasoning:** The court reasoned that the appellant's claim for Rs. 92.25 crores did not survive… **Interpretation:** The court interpreted the provisions of the IBC and the 'clean slate' principle… **Application:** In this case, the appellant's failure to re-submit its Rs. 92.25 crore claim… ## Parties - **Judges:** TUSHAR RAO… - **Other parties:** gauhati-high-court…; Kohi… - **Advocates:** For the Appellant:…; CGSC alon…; +10 more ## Timeline - **March 2, 2015 — Agreement Ex…**: OCL Iron and Steel Ltd. executed a Coal Mine Development and Production Agreement with… - **September 20, 2021 — CIRP Init…**: NCLT, Cuttack Bench, initiated Corporate Insolvency Resolution Process (CIRP) against OCL… ## Legal provisions - [Insolvency and Bankruptcy Code, 2016, Section 3(31) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3) --- This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/gauhati-high-court-kohima/union-of-india-vs-ocl-iron-and-steel-limited-ors-f616e2ea