# M/s Subasri Realty Private Limited Vs Mr. N Subramanian

> NCLAT judgment dated 2018-01-12. Citation: TCN-2018-NCLAT-00397. The case pertains to Company Appeal (AT) (Insolvency) No. 290 of 2017 filed before the…

- **Court:** NCLAT
- **Order date:** 12 Jan 2018
- **Citation:** TCN-2018-NCLAT-00397
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ms-subasri-realty-private-limited-vs-mr-n-subramanian-63633c7e

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 290 of 2017 filed before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The appeal involves M/s. Subasri Realty Private Limited as the Appellant and Mr. N. Subramanian & Anr. as the Respondents. The hearing involved arguments from both sides, with the Appellant's counsel concluding their arguments and the Respondents' counsel scheduled to resume on the next date.

## Facts

M/s. Subasri Realty Private Limited filed a Company Appeal (AT) (Insolvency) No. 290 of 2017 before the NCLAT against Mr. N. Subramanian & Anr. The hearing on 2018-01-12 involved arguments from the Appellant's counsel, Mr. R.C. Paul Kanagaraj, which were concluded. The Respondents' counsel was scheduled to resume their arguments on a later date. The court directed the Appellant to file short written submissions. The Interim Resolution Professional(s) was instructed to ensure the company's ongoing operations and allowed to seek assistance from the suspended Board of Directors. The court authorized the operation of the Corporate Debtor's bank accounts for day-to-day functioning, including payments for suppliers, salaries, and electricity bills. This is relevant to

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## Issues and analysis

### Issue 1: Whether the Appellant should be allowed …

**Ratio:** The court has the discretion to allow parties to submit written arguments to clarify

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**Reasoning:** Allowing written submissions ensures that the court has a clear understanding of the

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**Interpretation:** This allows the court to have a comprehensive record of the arguments and

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**Application:** The court directed the Appellant to file short written submissions, indicating

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** M/s. Subasri…
- **Respondents:** N. Subram…
- **Advocates:** R.C. Paul…; D. Revathi…; +3 more

## Timeline

- **2018-01-12 — Hearing of Mr. R.C.…**: Hearing of Mr. R.C. Paul Kanagaraj, learned Senior Advocate appearing on behalf of the…
- **2018-01-29 — Next Hearin…**: Matter posted for further…

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