# In the matter of Insolvency and Bankruptcy Board of India Vs Wig Associates Pvt Ltd IA No. 1950 -2018 in CA (AT) No. 415 -2018

> NCLAT judgment dated 2019-02-05. Citation: TCN-2019-NCLAT-00795. The case involves Company Appeal (AT) (Insolvency) No. 415 of 2018 filed by the Insolvency…

- **Court:** NCLAT
- **Order date:** 5 Feb 2019
- **Citation:** TCN-2019-NCLAT-00795
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/insolvency-and-bankruptcy-board-of-india-vs-wig-associates-pvt-ltd-ia-no-1950-20-cd84d768

## Summary

### Background

The case involves Company Appeal (AT) (Insolvency) No. 415 of 2018 filed by the Insolvency and Bankruptcy Board of India (IBBI). The appeal was against an order dated 1st August, 2018, where it was held that IBBI had no locus standi to challenge the findings recorded by the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench, Mumbai. The current matter is Interlocutory Application No. 1950 of 2018.

## Facts

The Insolvency & Bankruptcy Board of India (IBBI) filed Company Appeal (AT) (Insolvency) No. 415 of 2018. The appeal challenged an order dated August 1, 2018, which stated that IBBI lacked the legal standing (locus standi) to contest the findings of the Adjudicating Authority (National Company Law Tribunal) Mumbai Bench. The current proceeding concerns Interlocutory Application No. 1950 of 2018 within the same Company Appeal. The court noted that if the provisions of the Insolvency and Bankruptcy Code ('I&B Code') were not followed, the Resolution Professional representing the Corporate Debtor could file an appeal under Section 61 against the Adjudicating Authority's order dated June 4, 2018. Dr. U.K. Chaudhary, representing the 4th Respondent (Bank of Baroda),

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## Issues and analysis

### Issue 1: Whether the Insolvency & Bankruptcy Board of India (IBBI) has the locus standi to challenge the …

**Ratio:** The ratio is based on the principle of locus standi, which determines whether a party has

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**Reasoning:** The court's reasoning is based on its earlier order dated 1st August, 2018, where it was

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**Interpretation:** The interpretation of locus standi in the context of IBBI's role in challenging

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**Application:** The application of the ratio to the facts is that since IBBI was previously

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## Parties

- **Judges:** Bansi Lal…
- **Appellants:** Insolvency and…
- **Respondents:** Wig Associates…
- **Advocates:** Sourav Manohar…; Tuhina…; +10 more

## Timeline

- **2018-08-01 — Previous…**: Order stating that IBBI has no locus standi to challenge the findings recorded by the…
- **2018-06-04 — Impugned Ord…**: Date of the impugned order passed by the Adjudicating Authority, against which the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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