# In the matter of Girnar Fibres Ltd. Vs. Invent Assets Securitisation & Reconstruction Pvt. Ltd. CA(AT)(Ins)No. 878 of 2020

> NCLAT judgment dated 2020-10-13. Citation: TCN-2020-NCLAT-00086. The case involves an appeal against the disposal of an application under Section 7 filed by…

- **Court:** NCLAT
- **Order date:** 13 Oct 2020
- **Citation:** TCN-2020-NCLAT-00086
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/girnar-fibres-ltd-vs-invent-assets-securitisation-reconstruction-pvt-ltd-ca-6c0f8ef6

## Summary

### Background

The case involves an appeal against the disposal of an application under Section 7 filed by the Respondent (Financial Creditor). The Appellant, Girnar Fibres Ltd., is contesting the disposal, arguing that it is barred by limitation. The Adjudicating Authority (National Company Law Tribunal) Chandigarh Bench made some observations that are being challenged.

## Facts

Girnar Fibres Ltd. filed an appeal against Invent Assets Securitisation & Reconstruction Pvt. Ltd. regarding the disposal of an application under Section 7. The Respondent (Financial Creditor) filed the application, which was disposed of. The Appellant argued that the disposal was barred by limitation. The Adjudicating Authority (National Company Law Tribunal) Chandigarh Bench made observations that the Appellant found objectionable. The court found the appeal not maintainable at the instance of the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the appeal is maintainable at …

**Ratio:** An appeal is not maintainable at the

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**Reasoning:** The court found that the appeal was not maintainable at the instance of the Corporate

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**Interpretation:** The court interpreted the relevant provisions to determine whether a Corporate

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**Application:** The court applied the ratio to the facts of the case, determining that the

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## Parties

- **Judges:** Bansi Lal…; V. P. S…; +1 more
- **Respondents:** Girnar Fibr…; Invent Assets…
- **Advocates:** Manish…; Divya S…

## Timeline

- **2020-10-13 — Order Da…**: Ms. Divya Sharma, Advocate representing the Appellant, submits that disposal of…

## 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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