# In the matter of Mr. Ravi Srinivas Vs. Super Agri Seeds Pvt. Ltd. & Ors. CA(AT)(Insolvency)No. 1200 of 2019

> NCLAT judgment dated 2019-11-20. Citation: TCN-2019-NCLAT-00094. The case involves an appeal against an order by the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 20 Nov 2019
- **Citation:** TCN-2019-NCLAT-00094
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mr-ravi-srinivas-vs-super-agri-seeds-pvt-ltd-ors-ca-9603d10c

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, regarding the liquidation process of 'M/s. Super Agri Seeds Pvt. Ltd.' (Corporate Debtor). The appellant, a shareholder/promoter, filed an application alleging undervaluation of plant and machinery and germ plasm/parent seeds. The Adjudicating Authority rejected the application but directed the 6th respondent, Mr. Kiran Gubba, to compensate for the loss caused to the Corporate Debtor by not protecting/handing over the germ plasm/parent seeds to the liquidator. The Adjudicating Authority also directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor.

## Facts

The 'Corporate Insolvency Resolution Process' was initiated against 'M/s. Super Agri Seeds Pvt. Ltd.'- (‘Corporate Debtor'). The Resolution Professional failed to complete the process within the stipulated time, leading to the Corporate Debtor being ordered for liquidation. The Appellant, a Shareholder/Promoter, filed I.A. No. 494 of 2018 alleging undervaluation of Plant and Machinery and Germ Plasm/ Parent Seeds of ‘M/s. Super Agri Seeds Pvt. Ltd.'- ('Corporate Debtor'). The Adjudicating Authority rejected the application but directed R5 to pay the difference amount of Rs.31 lakhs to the Liquidation Account of the Corporate Debtor and R6 to make good the loss caused to the Corporate Debtor by dumping Germ Plasm/ Parent seed. The appellant alleged bias against the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has the jurisdiction to decide any allegations against the …

**Ratio:** The Adjudicating Authority has no jurisdiction to decide any allegations either against

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**Reasoning:** The court stated that it has already held in other cases that the Adjudicating Authority

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**Interpretation:** This clarifies the division of powers between the Adjudicating Authority and

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**Application:** The court applied this principle by stating that the appellant's allegations of

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…; +1 more
- **Appellants:** Ravi Sri…
- **Respondents:** M/s. Super Agri…

## Timeline

- **2019-08-09 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, passed an…
- **2019-08-22 — Certified copy made…**: The certified copy of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 53(1) — Distribution of assets](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-53)

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