# In the matter of Suresh Padmanabhan & Anr. Tata Steel Ltd. & Ors. CA (AT) No. 29-2018

> NCLAT judgment dated 2018-10-04. Citation: TCN-2018-NCLAT-00095. The case involves an appeal against an order dated December 22, 2017, passed by the…

- **Court:** NCLAT
- **Order date:** 4 Oct 2018
- **Citation:** TCN-2018-NCLAT-00095
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/suresh-padmanabhan-anr-tata-steel-ltd-ors-ca-at-no-29-2018-1cb522ec

## Summary

### Background

The case involves an appeal against an order dated December 22, 2017, passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, which rejected an application filed under Section 10(1) of the Insolvency and Bankruptcy Code, 2016 ('I&B Code') for initiating Corporate Insolvency Resolution Process against Tayo Rolls Limited ('Corporate Debtor'). The rejection was based on the ground that the matter had not been referred within 180 days from the date of abatement of reference in terms of sub-clause (b) of Section 4 of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 ('SICA Repeal Act').

## Facts

Tayo Rolls Limited ('Corporate Debtor') and Mr. Suresh Padmanabhan filed an application under Section 10(1) of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, rejected the application on December 22, 2017, because the matter was not referred within 180 days from the date of abatement of reference under Section 4 of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003. A reference case no. 48/2016 was pending before the Board of Industrial and Financial Reconstruction ('BIFR') and stood abated due to the SICA Repeal Act, 2003, which came into effect on December 1, 2016. Mr. Suresh Narayan Singh, representing 284 workers of

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the application under Section 10 of the …

**Ratio:** The ratio is that the 180-day time period under Section 4 of the SICA Repeal Act, 2003,

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**Reasoning:** The Appellate Tribunal reasoned that a plain reading of Section 4 of the SICA Repeal Act,

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**Interpretation:** The interpretation is that Section 4 of the SICA Repeal Act, 2003, should not

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**Application:** In this specific case, the Appellate Tribunal found that the Adjudicating

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Suresh Padm…
- **Respondents:** Tayo Rolls…; TATA STEE…

## Timeline

- **2016-12-01 — I&B Code in…**: The Insolvency and Bankruptcy…
- **2016-12-01 — SICA Repeal Act…**: The Sick Industrial Companies (Special Provisions) Repeal Act, 2003, became effective,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10(1) — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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