# In the matter of Shyam Pradhan & Anr. Vs. Anand Chandra Swain CA(AT)(Ins) No. 15 of 2020

> NCLAT judgment dated 2020-01-21. Citation: TCN-2020-NCLAT-00515. The case involves an appeal against the initiation of the Corporate Insolvency Resolution…

- **Court:** NCLAT
- **Order date:** 21 Jan 2020
- **Citation:** TCN-2020-NCLAT-00515
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shyam-pradhan-anr-vs-anand-chandra-swain-ca-64653dce

## Summary

### Background

The case involves an appeal against the initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s. Kei-Rsos Maritime Limited. The appellant, Ship Owners Protection Limited (SOPL), an insurance company, had insured the corporate debtor. The Adjudicating Authority (National Company Law Tribunal), Amaravati Bench, directed the insurer to continue with the insurance. The appeal challenges this order.

## Facts

Ship Owners Protection Limited (SOPL), an insurance company based in London, insured M/s. Kei-Rsos Maritime Limited, a company involved in single point mooring operations under contracts with oil refineries. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Kei-Rsos Maritime Limited. SOPL, the insurer, filed an appeal. The Adjudicating Authority, National Company Law Tribunal, Amaravati Bench, directed SOPL to continue the insurance coverage. SOPL appealed this decision. The key fact is that the insurer was directed to continue insurance coverage during the CIRP.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order directing the insurer to continue insurance coverage …

**Ratio:** The legal principle is that the Corporate Insolvency Resolution Process (CIRP) aims to

…

**Reasoning:** The court reasoned that the Adjudicating Authority rightly directed the insurer to

…

**Interpretation:** The interpretation is that the CIRP should not be undermined by actions that

…

**Application:** The ratio and reasoning are applied to the specific facts by affirming the

…

## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…; +1 more
- **Appellants:** Shyam Pr…
- **Respondents:** M/s. KEI-RSOS…; Anand Chandra…

## Timeline

- **2020-01-21 — Order Da…**: The Appellant is the agent of ‘Ship Owners Protection Limited, London (SOPL)' (an…
- **2019-11-27 — Impugned Ord…**: The Adjudicating Authority (National Company Law Tribunal), Amaravati Bench, rightly…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/shyam-pradhan-anr-vs-anand-chandra-swain-ca-64653dce