# In the matter of PTC Engineering India Pvt. Ltd. vs. Naresh Kumar Munjal

> NCLAT judgment dated 2025-03-18. Citation: TCN-2025-NCLAT-00159. This is a Company Appeal (AT) (Insolvency) No. 444 of 2025. The appeal was filed against an…

- **Court:** NCLAT
- **Order date:** 18 Mar 2025
- **Citation:** TCN-2025-NCLAT-00159
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ptc-engineering-india-pvt-ltd-vs-naresh-kumar-munjal-964b24cd

## Summary

### Background

This is a Company Appeal (AT) (Insolvency) No. 444 of 2025. The appeal was filed against an order dated 06.02.2025 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Court-III in IA No.4529 of 2023. The IA was filed by the Appellant seeking directions. The Adjudicating Authority rejected the IA filed by the Appellant. The Adjudicating Authority noted that the CoC in its 16th meeting held on 01.04.2024 decided not to accept the belated Eols and resolve for liquidation. The appellant had submitted its Eol on 26.07.2023, mistaking the last date for submission as 26.07.2023 instead of 24.07.2023.

## Facts

PTC Engineering India Pvt. Ltd. filed an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Court-III. The impugned order rejected IA No.4529 of 2023 filed by the Appellant. The Appellant sought a direction to allow the present Application and allow the Applicant to file its EOI in the CIRP of Nipman Fastener Industries Pvt. Ltd. The last date for submitting Eol was 24.07.2023, but the Appellant submitted its Eol on 26.07.2023, mistaking the date. The Eol was not accepted. The Adjudicating Authority noted that the CoC in its 16th meeting held on 01.04.2024 decided not to accept the belated Eols and resolve for liquidation. The CoC has taken a decision not to accept the belated Eol and has also resolved to file

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in …

**Ratio:** The CoC has the authority to decide on the acceptance of EOI and to resolve for

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**Reasoning:** The court reasoned that the CoC had already taken a decision not to accept the belated

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**Interpretation:** The court interpreted that the Adjudicating Authority's decision to reject the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** PTC Engineering…
- **Respondents:** Nipman Fastener…; Naresh Kumar…
- **Advocates:** Rishi K…; Shashank A…; +4 more

## Timeline

- **2023-07-24 — Last date for…**: The last date for…
- **2023-07-26 — Appellant subm…**: Appellant submitted its Eol on…

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