# In the matter of Dolphin Vintrade Private Limited, Vs Gourepore Company Limited (in Liquidation)

> NCLAT judgment dated 2022-07-22. Citation: TCN-2022-NCLAT-00333. This appeal challenges an order from the NCLT, Kolkata Bench, which rejected the appellant's…

- **Court:** NCLAT
- **Order date:** 22 Jul 2022
- **Citation:** TCN-2022-NCLAT-00333
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/dolphin-vintrade-private-limited-vs-gourepore-company-limited-e4cf1c8e

## Summary

### Background

This appeal challenges an order from the NCLT, Kolkata Bench, which rejected the appellant's application to dismiss a Section 7 IBC application and admitted the Section 7 application filed by Respondent No.1. The core dispute revolves around the maintainability of the Section 7 application given the corporate debtor's long-standing liquidation status and alleged suppression of material facts by Respondent No.1.

## Facts

M/s. Gourepore Company Limited, the corporate debtor, a jute goods manufacturer, was declared a sick industrial company by BIFR on September 12, 1991, under Section 15 of the Sick Industrial Companies (Special Provisions) Act, 1986. The BIFR recommended winding up, and an appeal to the AAIFR was dismissed on August 5, 1992. Subsequently, a winding-up petition was filed under Sections 433 and 434 of the Companies Act, 1956, which led to a winding-up order by the Calcutta High Court on November 26, 1997, and the Official Liquidator took control of the company's assets. Respondent No.1, Ashray Vyapaar Private Limited, incorporated on July 28, 2007, claimed to have acquired debts from the corporate debtor's secured creditors through assignments. These assignments included

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## Issues and analysis

### Issue 1: Whether Respondent No.1 suppressed material facts and orders of the Calcutta High Court in its …

**Ratio:** Suppression of material facts and relevant court orders, especially those making adverse

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**Reasoning:** The NCLAT found that Respondent No.1 deliberately concealed the Calcutta High Court's

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**Interpretation:** The court interpreted the requirement for full disclosure as paramount,

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**Application:** Respondent No.1's failure to disclose the Calcutta High Court's orders, which

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## Parties

- **Judges:** Ashok Bh…; Shreesha…; +2 more
- **Appellants:** Dolphin Vintrade…
- **Respondents:** Gourepore Company…; Ashray Vyapaar…; +1 more
- **Advocates:** Sanjeev…; Gaurav Ke…; +10 more

## Timeline

- **September 12, 1991 — Company decla…**: M/s. Gourepore Company Limited declared…
- **August 5, 1992 — AAIFR Appeal d…**: Appeal filed by the Company before the Appellate Authority for Industrial & Financial…

## 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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