# In the matter of Mr. Anmol Tekriwal Vs. M.N. Auxichem & Anr. CA(AT)(Insolvency) 570-2018

> NCLAT judgment dated 2019-01-22. Citation: TCN-2019-NCLAT-00861. This is a Company Appeal (AT) (Insolvency) No. 570 of 2018 filed by Mr. Anmol Tekriwal…

- **Court:** NCLAT
- **Order date:** 22 Jan 2019
- **Citation:** TCN-2019-NCLAT-00861
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mr-anmol-tekriwal-vs-mn-auxichem-anr-ca-165f169d

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 570 of 2018 filed by Mr. Anmol Tekriwal against the order dated 8th June, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-III, whereby the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 preferred by ‘M/s. M.N. Auxichem' for initiation of 'Corporate Insolvency Resolution Process' against ‘M/s. BTM Industries Limited' has been admitted. The appeal was filed with a delay of 6 days, which the appellate tribunal condoned. The appellant argued that the corporate debtor was not served notice before the admission of the application under Section 9.

## Facts

M/s. M.N. Auxichem initiated Corporate Insolvency Resolution Process against M/s. BTM Industries Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application, leading Mr. Anmol Tekriwal, a shareholder of the Corporate Debtor, to file an appeal. The appeal was filed with a delay of 6 days. The Appellant contended that the Corporate Debtor was not served notice before the admission of the application under Section 9. The Operational Creditor claimed settlement. An Intervention Application was filed by Samarpan Synthetics Private Limited, claiming settlement with the Corporate Debtor. The Adjudicating Authority appointed an Interim Resolution Professional, declared a moratorium, and froze

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority violated the principles of natural justice by not serving notice …

**Ratio:** The principles of natural justice require that a party must be given a reasonable

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**Reasoning:** The appellate tribunal reasoned that there was nothing on record to suggest that notice

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**Interpretation:** The interpretation of Section 7(4) of the Code of 2016 and Section 424 of the

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**Application:** In this case, since there was no evidence that the Corporate Debtor was served

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Anmol Tek…
- **Respondents:** M/s. BTM Industrie…; M/s. Μ.Ν. A…
- **Advocates:** P. Na…; Dhruv Dev…; +4 more

## Timeline

- **2018-06-08 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal) passed an order admitting the…
- **2018-09-13 — Appeal F…**: The Appellant filed an appeal against the order dated 8th June, 2018, with a delay of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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