# In the matter of Shashi Kanth Jain Vs Alloys &  Metals (India) CA (AT) (Insolvency) 373-2018

> NCLAT judgment dated 2019-01-08. Citation: TCN-2019-NCLAT-00882. The appeal was filed by Mr. Shashi Kanth Jain, Director of Hindustan Paper Corporation Ltd.…

- **Court:** NCLAT
- **Order date:** 8 Jan 2019
- **Citation:** TCN-2019-NCLAT-00882
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shashi-kanth-jain-vs-alloys-metals-a93231e8

## Summary

### Background

The appeal was filed by Mr. Shashi Kanth Jain, Director of Hindustan Paper Corporation Ltd. (Corporate Debtor), against the order dated 13th June, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench. The Adjudicating Authority admitted the application under Section 9 of the I&B Code preferred by M/s. Alloys & Metals (India), passed an order of moratorium, and appointed a Resolution Professional.

## Facts

M/s. Alloys & Metals (India) initiated insolvency proceedings against Hindustan Paper Corporation Ltd. (Corporate Debtor) under Section 9 of the I&B Code. The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, admitted the application, declared a moratorium, and appointed a Resolution Professional. Mr. Shashi Kanth Jain, Director of Hindustan Paper Corporation Ltd., filed an appeal against this order, arguing that the Adjudicating Authority did not provide sufficient opportunity to file a reply. The appellant also claimed that some documents were not proper or fabricated. The Demand Notice under Section 8(1) of the I&B Code was issued, and the corporate debtor did not dispute the amount claimed by the operational creditors. The

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority provided sufficient opportunity to the corporate debtor to file …

**Ratio:** The principle is that the Adjudicating Authority must provide a reasonable opportunity to

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**Reasoning:** The court noted that a notice was issued to the corporate debtor, and the parties were

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**Interpretation:** The interpretation of 'sufficient opportunity' depends on the specific facts

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**Application:** In this case, the court found that a notice was issued, and the parties were

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Shashi Kant…
- **Respondents:** Hindustan Paper…; M/s Alloys &…
- **Advocates:** Poonam Ag…; Dilip Ag…; +6 more

## Timeline

- **2018-06-13 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, passed an…
- **2019-01-08 — Appeal F…**: Mr. Shashi Kanth Jain, Director of Hindustan Paper Corporation Ltd., filed an appeal…

## 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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