# In the matter of Asean International Limited vs. Sanjeev Maheshwari & Ors.

> NCLAT judgment dated 2025-02-20. Citation: TCN-2025-NCLAT-00203. Asean International Limited filed an appeal against an order dated 17.10.2023 passed by the…

- **Court:** NCLAT
- **Order date:** 20 Feb 2025
- **Citation:** TCN-2025-NCLAT-00203
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/asean-international-limited-vs-sanjeev-maheshwari-ors-835b6d72

## Summary

### Background

Asean International Limited filed an appeal against an order dated 17.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-I) in I.A. No. 1795 of 2023 in CP (IB) No. 247 (MB)/2017. The Adjudicating Authority had dismissed IA No. 1795 of 2023 filed by the Appellant and rejected the claim submitted by the Appellant before the Liquidator. The appeal concerns a claim for unpaid supplies made to the Corporate Debtor, Varun Resources Ltd., during its Corporate Insolvency Resolution Process (CIRP). The Appellant claimed interest on delayed payments, which was not initially included in their claim filed before the Liquidator. The Liquidator rejected the claim, leading to the present appeal.

## Facts

The Corporate Debtor, Varun Resources Ltd., was admitted into CIRP on 14.06.2017. The Appellant, Asean International Limited, supplied bunkers, fuels, fresh water, and oil to three vessels owned by the Corporate Debtor between 23-27 July 2017, based on the request of the RP. Three invoices were raised for USD 173,182.97. The Respondent accepted the principal amount of USD 173,183.17 as liability towards supplies. No resolution plan was approved, leading to liquidation. The Liquidator issued a public announcement on 06.12.2018, setting 02.01.2019 as the last date for claim submission. The Appellant requested an extension to file claims on 22.01.2019, which was denied. The Appellant filed their claim on 22.03.2019, which the Liquidator rejected on 30.03.2019, as it was

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## Issues and analysis

### Issue 1: Whether the Appellant is entitled to claim interest on delayed payments for supplies made to the …

**Ratio:** The ratio is that claims, including interest, must be filed within the stipulated

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**Reasoning:** The court reasoned that the Appellant failed to include the interest component in their

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**Interpretation:** This interprets the Liquidation Process Regulations to mean that all claims,

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**Application:** The ratio and reasoning were applied to the facts by noting that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Asean Internationa…
- **Respondents:** Varun Resources…; Sanjeev Mah…
- **Advocates:** Lzafeer Ah…; Shub…; +4 more

## Timeline

- **2017-06-14 — CIRP Commen…**: Corporate Debtor, M/s Varun Resources Ltd., admitted into Corporate Insolvency Resolution…
- **2017-07-23 — Supplies…**: Appellant supplied bunkers, fuels, fresh water, etc. to three vessels owned by the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61(1) — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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