# In the matter of Bank of India Vs. Paramshakti Steel Ltd. & Anr. CA (AT)(Ins) No. 459 & 460-2019

> NCLAT judgment dated 2019-04-30. Citation: TCN-2019-NCLAT-00623. The case involves a Company Appeal (AT)(Ins) No. 459-460 of 2019 before the National Company…

- **Court:** NCLAT
- **Order date:** 30 Apr 2019
- **Citation:** TCN-2019-NCLAT-00623
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/bank-of-india-vs-paramshakti-steel-ltd-anr-ca-70fe865e

## Summary

### Background

The case involves a Company Appeal (AT)(Ins) No. 459-460 of 2019 before the National Company Law Appellate Tribunal (NCLAT), New Delhi. Bank of India is the Appellant, and Paramshakti Steels Ltd. & Anr. are the Respondents. The appeal concerns the implementation of a 'Resolution Plan'.

## Facts

Bank of India filed a Company Appeal (AT)(Ins) No. 459-460 of 2019 against Paramshakti Steels Ltd. & Anr. The appeal relates to a 'Resolution Plan'. The court issued notices to the respondents, and the respondents were given time to file reply-affidavits on the question of condonation of delay and merit. The appellant was also given time to file a rejoinder. The implementation of the 'Resolution Plan' is subject to the decision of this appeal. The case was posted for admission on May 30, 2019.

## Issues and analysis

### Issue 1: Whether notice should be …

**Ratio:** The principle of natural justice requires that all parties to a dispute be given notice

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**Reasoning:** The court directed the issuance of notice to the Respondents to ensure that they are

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**Interpretation:** Issuance of notice is a fundamental requirement of due process, ensuring that

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**Application:** The court applied this principle by directing the issuance of notice to the

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** Bank of…
- **Respondents:** Paramshakti…
- **Advocates:** Ashish…; Surekh…; +2 more

## Timeline

- **2019-04-30 — Notice to Res…**: Court orders notice to be issued to the Respondents. Mr. P.S. Bindra accepts notice on…
- **2019-05-01 — Filing of Re…**: Requisite along with process fee…

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