# In the matter of Ilam Chand Kamboj Vs. ANG Industries Ltd. CA(AT)(Insolvency) No. 253-2019

> NCLAT judgment dated 2019-08-02. Citation: TCN-2019-NCLAT-00388. The appeal was preferred by Ilam Chand Kamboj, the Resolution Professional of ANG Industries…

- **Court:** NCLAT
- **Order date:** 2 Aug 2019
- **Citation:** TCN-2019-NCLAT-00388
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ilam-chand-kamboj-vs-ang-industries-ltd-ca-fb1cd515

## Summary

### Background

The appeal was preferred by Ilam Chand Kamboj, the Resolution Professional of ANG Industries Ltd., against an order dated February 4, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench. The Adjudicating Authority made certain observations in Company Petition no. (IB)-292(ND)/2017, which led to the initiation of proceedings by the Insolvency and Bankruptcy Board of India (IBBI). The grievance of the Appellant is against observations made by the Adjudicating Authority regarding non-compliance with directions related to valuation reports and the resolution plan.

## Facts

Ilam Chand Kamboj, the Resolution Professional (RP) of ANG Industries Ltd. ('Corporate Debtor'), filed an appeal against an order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, dated February 4, 2019. The Adjudicating Authority made observations in Company Petition no. (IB)-292(ND)/2017, which led to proceedings by the Insolvency and Bankruptcy Board of India (IBBI). The Adjudicating Authority noted that the RP had not complied with the Tribunal's directions regarding valuation as per the order dated 15.10.2018. The valuation reports submitted by the RP did not inspire confidence, leading to a directive for another valuation by an IBBI-approved valuer. The resolution plan was submitted by a consortium of resolution applicants without a

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's observations can be treated as a final decision against the …

**Ratio:** The principles of natural justice require that a party must be given an opportunity to be

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**Reasoning:** The NCLAT reasoned that the IBBI cannot treat the Adjudicating Authority's observations

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**Interpretation:** This emphasizes the importance of due process and fairness in legal

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**Application:** The NCLAT applied this principle by directing the IBBI to hear the proceedings

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** Ilam Chand…
- **Respondents:** ANG Industries…; M/s ANG Industries…

## Timeline

- **2018-10-15 — Tribunal…**: The Tribunal issued an order…
- **2019-02-04 — Adjudicating Authority…**: The Adjudicating Authority passed an order with certain observations against the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(26) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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