# In the matter of Tariq Abdulla Suleman vs. Bank of India Ltd. & Anr.

> NCLAT judgment dated 2023-08-01. Citation: TCN-2023-NCLAT-00327. The appeal was filed against the order dated June 23, 2023, by the National Company Law…

- **Court:** NCLAT
- **Order date:** 1 Aug 2023
- **Citation:** TCN-2023-NCLAT-00327
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/tariq-abdulla-suleman-vs-bank-of-india-ltd-anr-1c0d4890

## Summary

### Background

The appeal was filed against the order dated June 23, 2023, by the National Company Law Tribunal, Mumbai Bench, which admitted an application filed under Section 7 of the I&B Code, 2016, by the Bank of India. The application claimed a due of Rs. 111,61,53,766/-.

## Facts

The Bank of India filed an application under Section 7 of the I&B Code, 2016, before the National Company Law Tribunal (NCLT), Mumbai Bench, claiming a due of Rs. 111,61,53,766/-. The NCLT admitted the application on June 23, 2023. Subsequently, the appellant filed an Interlocutory Application (I.A.) stating that the entire outstanding amount claimed by the Bank had been paid on July 28, 2023, and provided supporting email correspondence. The Bank's counsel confirmed receiving instructions that the amount had been paid. This payment is the key fact that led to the appeal being disposed of.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should continue when the entire …

**Ratio:** The fundamental principle is that CIRP is initiated to resolve financial distress and

…

**Reasoning:** The court reasoned that since the entire payment had been made, there was no purpose in

…

**Interpretation:** This interprets the purpose of the IBC as being primarily for debt resolution.

…

**Application:** The court applied this principle to the specific facts, noting that the

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Tariq Abdulla…
- **Respondents:** Bank of Ind…

## Timeline

- **2023-06-23 — NCLT Ord…**: National Company Law Tribunal, Mumbai Bench, admitted the application filed under Section…
- **2023-07-28 — Payment…**: The Appellant claimed that the entire outstanding amount claimed by the Bank has been…

---

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/tariq-abdulla-suleman-vs-bank-of-india-ltd-anr-1c0d4890