# In the matter of CoC of Jupitar Spun Pipes & Casting Pvt. Ltd. & Ors. vs. Bihar State Industrial Development Corporation Ltd. & Ors.

> NCLAT judgment dated 2025-09-19. Citation: TCN-2025-NCLAT-00507. The appeals challenge an order dated 14.03.2024 by the NCLT, Kolkata, regarding IAs related…

- **Court:** NCLAT
- **Order date:** 19 Sept 2025
- **Citation:** TCN-2025-NCLAT-00507
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/coc-of-jupitar-spun-pipes-casting-pvt-ltd-ors-vs-bihar-state-industrial-developm-9ea12c6d

## Summary

### Background

The appeals challenge an order dated 14.03.2024 by the NCLT, Kolkata, regarding IAs related to the CIRP of Jupitar Spun Pipes & Casting Pvt. Ltd. The CoC and the RP of the corporate debtor have filed separate appeals.

## Facts

The State of Bihar acquired land from Gayday Iron and Steel Company Ltd. in 1961.

Gayday was admitted into liquidation in 1982 by the Calcutta High Court.

BSIDC was declared the successful auction purchaser of Gayday's assets by the Supreme Court in 1982.

BSIDC incorporated Magadh Spun Pipe Limited in 1985 and entrusted the assets to it.

Jupiter Spun Pipes & Casting Private Ltd. (CD) was incorporated in 1999.

Magadh took financial assistance from IRBI, with BSIDC as guarantor.

BSIDC attempted to lease out the unit to Machineries and Allied Products Pvt. Ltd. in 2000, but the lease was not executed.

The CD claims to have obtained a lease of land from BSIDC and Magadh in 2007.

SBI sanctioned credit facilities to the CD based on the lease deed dated 24.09.2007.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can decide on the validity of a document when allegations of …

**Ratio:** The Adjudicating Authority cannot act as a Civil Court to enter into issues of fraud and

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**Reasoning:** Fraud and forgery are issues that require

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**Interpretation:** The Adjudicating Authority's jurisdiction is limited in cases involving fraud

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**Application:** The Adjudicating Authority can determine whether a document is void or

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Committee of…; Binay Kumar…
- **Respondents:** Jupiter Spun…; Bihar State…
- **Other parties:** State Bank of…; Binay Kumar…
- **Advocates:** Mr Abhinav…; Mr Indranil…; +23 more

## Timeline

- **1961 — Land Acqui…**: The State of Bihar acquired land from…
- **1982 — Liquidation o…**: Gayday was admitted into…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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