# In the matter of ASL Enterprises Ltd. vs. Adi Ispat Pvt. Ltd. & Anr.

> NCLAT judgment dated 2024-09-02. Citation: TCN-2024-NCLAT-00226. The appeal was filed against an order passed by the Adjudicating Authority on 2024-06-18…

- **Court:** NCLAT
- **Order date:** 2 Sept 2024
- **Citation:** TCN-2024-NCLAT-00226
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/asl-enterprises-ltd-vs-adi-ispat-pvt-ltd-anr-23fb37c6

## Summary

### Background

The appeal was filed against an order passed by the Adjudicating Authority on 2024-06-18 regarding an I.A. filed by the Liquidator. The Appellant was declared the successful bidder in the liquidation proceeding of the Corporate Debtor, following a public announcement on 2022-09-29. The Appellant then filed an I.A. seeking reliefs and concessions, which was allowed on 2024-05-10. The Adjudicating Authority reserved its order on the application for dissolution on 2024-01-04 and subsequently allowed it on 2024-06-18. The Appellant contends they were not made a party to the dissolution application and were not heard. The Appellant argues that the Adjudicating Authority was unaware of the earlier order granting reliefs and concessions when passing the dissolution order.

## Facts

ASL Enterprises Ltd. was declared the successful bidder in the liquidation proceeding of an unnamed Corporate Debtor, following a public announcement on 2022-09-29. Subsequently, ASL Enterprises filed an I.A. seeking reliefs and concessions, which was granted on 2024-05-10. The Liquidator filed an I.A. for the dissolution of the Corporate Debtor. The Adjudicating Authority reserved its order on the dissolution application on 2024-01-04 and allowed it on 2024-06-18. ASL Enterprises appealed this decision, arguing they were not made a party to the dissolution application and were not heard. ASL Enterprises had deposited the entire sale consideration and received a possession letter on 2023-02-04, with a sale agreement executed on 2023-03-20. The Liquidator argued the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in passing the dissolution order dated 2024-06-18 without …

**Ratio:** An order passed in ignorance of a prior order of the same authority, especially one

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**Reasoning:** The court found that the Adjudicating Authority had already granted reliefs and

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**Interpretation:** This highlights the importance of the Adjudicating Authority being fully aware

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**Application:** The court applied this principle to the facts of the case, noting that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** ASL Enterprises…
- **Respondents:** Adi Ispat Pvt.…

## Timeline

- **2022-09-29 — Public Annou…**: Public announcement declaring ASL…
- **2022-10-20 — Sale Notic…**: Sale notice date…

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