# In the matter of Ch.V.N. Raghurama Gupta vs. Ceasanglass Pvt. Ltd. & 2 Ors.

> NCLAT judgment dated 2024-08-13. Citation: TCN-2024-NCLAT-00262. The Appellant, claiming to be a Shareholder/Promoter/Suspended Director of M/s. Cesan Glass…

- **Court:** NCLAT
- **Order date:** 13 Aug 2024
- **Citation:** TCN-2024-NCLAT-00262
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/chvn-raghurama-gupta-vs-ceasanglass-pvt-ltd-2-ors-3ae4b2bc

## Summary

### Background

The Appellant, claiming to be a Shareholder/Promoter/Suspended Director of M/s. Cesan Glass Pvt. Ltd. (the Corporate Debtor), challenged an Impugned Order dated 2024-04-25 rendered by NCLT, Hyderabad, in IA(IBC) No.20/2023 in TCP(IB) No.73/9/HDB/2019. The Impugned Order rejected IA(IBC) 20/2023. The Appellant, though not a party to the Company Petition proceedings, filed an IA before the NCLT, citing his participation in CoC meetings and the inclusion of his private properties in the Resolution Plan, seeking specific reliefs.

## Facts

The Appellant, Ch.V.N. Raghurama Gupta, claims to be a Shareholder/Promoter/Suspended Director of Cesan Glass Pvt. Ltd., the Corporate Debtor. He challenged an order dated 2024-04-25 passed by NCLT, Hyderabad, which rejected IA(IBC) 20/2023. The Appellant, though not a party to the original Company Petition, filed an IA seeking certain reliefs, citing his participation in CoC meetings and the inclusion of his private properties in the Resolution Plan. The NCLT rejected his application and imposed a cost of Rs. 50,000. The Appellant then sought to withdraw his appeal before the NCLAT, reserving the right to pursue other remedies.

## Issues and analysis

### Issue 1: Whether the Appellant, who is not a party to the Company Petition, is entitled to the reliefs …

**Ratio:** A party seeking relief under Section 60(5) of the Insolvency and Bankruptcy Code must

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**Reasoning:** The court reasoned that the Appellant, not being a party to the Company Proceedings,

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**Interpretation:** Section 60(5) provides a mechanism for seeking remedies within the framework of

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**Application:** The court applied this principle to the facts by noting that the Appellant was

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Ch.V.N. Raghurama…
- **Respondents:** Cesan Glass Pvt.…; M/a. Ceasanglass…

## Timeline

- **2024-04-25 — Impugned Ord…**: NCLT, Hyderabad, rendered the Impugned Order in IA(IBC) No.20/2023 in TCP(IB)…
- **2022-12-19 — CoC Meet…**: The 13th meeting of the CoC was held, where the Resolution Application of M/s. Emerge…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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