# In the matter of Binani Industries Ltd. Vs. Binani Cements Ltd. & Anr. CA (AT) No. 216-2018

> NCLAT judgment dated 2018-05-16. Citation: TCN-2018-NCLAT-00274. This is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning the…

- **Court:** NCLAT
- **Order date:** 16 May 2018
- **Citation:** TCN-2018-NCLAT-00274
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/binani-industries-ltd-vs-binani-cements-ltd-anr-ca-19cdb6be

## Summary

### Background

This is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning the insolvency of Binani Industries Ltd. The appeal questions whether the Adjudicating Authority (National Company Law Tribunal) can reject a shareholder's offer to pay 100% of the credit amount to all creditors within two to four weeks. Rajputana Properties Private Limited, a resolution applicant, claims its resolution plan was improperly rejected.

## Facts

Binani Industries Ltd. is facing insolvency proceedings. A shareholder offered to pay 100% of the credit amount to all creditors within two to four weeks. The Adjudicating Authority (National Company Law Tribunal) is considering this offer. Rajputana Properties Private Limited submitted a resolution plan that was rejected by the Adjudicating Authority. Rajputana Properties Private Limited claims its resolution plan is superior and seeks to intervene in the appeal. The appeal is pending before the National Company Law Appellate Tribunal.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority (National Company Law Tribunal) can refuse the offer of a …

**Ratio:** The ratio will depend on the interpretation of the Insolvency and Bankruptcy Code (IBC)

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**Reasoning:** The court's reasoning will likely involve an analysis of the IBC provisions related to

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**Interpretation:** The interpretation will focus on the scope of the Adjudicating Authority's

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**Application:** The application will involve applying the legal principles and interpretations

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Respondents:** Binani Industries…; Binani Cements…

## Timeline

- **2018-05-16 — Appeal Consid…**: The question arises for consideration in this appeal is whether the Adjudicating…
- **2018-05-21 — Intervention…**: M/s. Rajputana Properties Private Limited is…

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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/nclat-new-delhi/binani-industries-ltd-vs-binani-cements-ltd-anr-ca-19cdb6be