# In the matter of Prateek Gupta Vs. Columbia Petro Chem Pvt. Ltd. CA (AT) No. 133-2018

> NCLAT judgment dated 2018-05-28. Citation: TCN-2018-NCLAT-00256. The appeal was filed by Mr. Prateek Gupta, a director and shareholder of 'Petrolube India…

- **Court:** NCLAT
- **Order date:** 28 May 2018
- **Citation:** TCN-2018-NCLAT-00256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/prateek-gupta-vs-columbia-petro-chem-pvt-ltd-ca-db61358c

## Summary

### Background

The appeal was filed by Mr. Prateek Gupta, a director and shareholder of 'Petrolube India Limited', against an order dated January 25, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi. The Adjudicating Authority admitted an application under Section 9 filed by the Respondent, 'M/s Columbia Petro Chem Pvt. Ltd.', passed an order of moratorium, and appointed an Interim Resolution Professional. The appellant argued that the order was passed without notice to the Corporate Debtor and that the notice under Section 8(1) was never served.

## Facts

Mr. Prateek Gupta, Director and shareholder of ‘Petrolube India Limited', appealed against an order dated January 25, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi. The Adjudicating Authority admitted an application under Section 9 preferred by Respondent - ‘M/s Columbia Petro Chem Pvt. Ltd.', passed an order of moratorium, and appointed an Interim Resolution Professional. The appeal was filed on March 26, 2018. The Appellant argued that the order was passed without notice to the Corporate Debtor and that notice under Section 8(1) was never served on the Corporate Debtor. The Respondent presented evidence, including a letter dated 07.02.2017 issued by Mr. Vinit N Misha, Advocate, High Court Mumbai, showing that the

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## Issues and analysis

### Issue 1: Whether the appeal was …

**Ratio:** The appeal was considered on time based on the appellant's date of knowledge, even though

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**Reasoning:** The court considered the fact that the Appellant is the Director and Shareholder of the

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**Interpretation:** The interpretation of the law allows for consideration of the appellant's

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**Application:** The court applied the principle that the appeal was on time based on the

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Prateek…
- **Respondents:** Petrolube India…; M/s Columbia…
- **Advocates:** Gauri R…; Srishti J…; +4 more

## Timeline

- **2018-01-25 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Bench III, New Delhi, passed…
- **2018-03-26 — Appeal F…**: The appeal was filed on…

## 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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