# In the matter of Binjusaria Ispat Pvt Ltd. Vs Maruti Venkata Subba Rao Poluri Rp Of Abhirama Steels Ltd.

> NCLAT judgment dated 2024-11-14. Citation: TCN-2024-NCLAT-00088. The case involves an appeal against an Impugned Order dated 17.09.2024, passed in IA…

- **Court:** NCLAT
- **Order date:** 14 Nov 2024
- **Citation:** TCN-2024-NCLAT-00088
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/binjusaria-ispat-pvt-ltd-vs-maruti-venkata-subba-rao-poluri-rp-of-abhirama-steel-eb8a9d6a

## Summary

### Background

The case involves an appeal against an Impugned Order dated 17.09.2024, passed in IA No.1180/2024, rendered in IA (IBC) (PLAN) 10/2024, in CP (IB) No.525/9/HDB/2019. The appellant challenges the order based on non-compliance with Section 24(3)(c) of the I&B Code, arguing that the issue of notice was not properly done and that it adversely affects the appellant's interest as an Operational Creditor.

## Facts

Binjusaria Ispat Pvt Ltd. filed an appeal against an Impugned Order dated 17.09.2024. The Impugned Order was passed in IA No.1180/2024, rendered in IA (IBC) (PLAN) 10/2024, in CP (IB) No.525/9/HDB/2019. The appellant, Binjusaria Ispat Pvt Ltd., is an Operational Creditor. The core issue revolves around the non-compliance of Section 24(3)(c) of the I&B Code, specifically the failure to properly issue notices to the appellant. The appellant argues that this failure adversely affects their interests. The NCLT and NCLAT did not consider that the appellant was not served notice of the meeting of the COC, the proceedings were ex parte, and the resolution plan incorrectly projected the appellant's claim. The Hon'ble Apex Court's judgment in Greater Noida Industrial

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## Issues and analysis

### Issue 1: Whether the compliance of the provisions under Section 24(3)(c) of the I&B Code is mandatory …

**Ratio:** The compliance of the provisions under Section 24(3)(c) of the I&B Code is mandatory,

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**Reasoning:** The court relies on the judgment of the Hon'ble Apex Court in Greater Noida Industrial

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**Interpretation:** Section 24(3)(c) of the I&B Code mandates that notice must be given to all

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**Application:** In this case, the appellant, Binjusaria Ispat Pvt Ltd., was not properly served

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Binjusaria Ispat…
- **Respondents:** Abhirama Steels…; Maruti Venkata…

## Timeline

- **2024-09-17 — Impugned Ord…**: Date of the Impugned Order passed in IA No.1180/2024, rendered in IA (IBC) (PLAN)…
- **2024-11-14 — Order Da…**: Date of the order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 24(3) — Meeting of committee of creditors](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-24)

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