# In the matter of The Board of Trustees for the Port of Kolkata Rep. by its Constituted Attorney & Anr. Vs. Stewarts and Lloyds of India Ltd. Rep. by Ms. Mamta Binani, Liquidator CA (AT) No. 367-2018

> NCLAT judgment dated 2018-10-03. Citation: TCN-2018-NCLAT-00097. The Board of Trustees for the Port of Kolkata appealed against part of an order dated May 4,…

- **Court:** NCLAT
- **Order date:** 3 Oct 2018
- **Citation:** TCN-2018-NCLAT-00097
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/the-board-of-trustees-for-the-port-of-kolkata-rep-by-its-constituted-attorney-an-65b0df1e

## Summary

### Background

The Board of Trustees for the Port of Kolkata appealed against part of an order dated May 4, 2018, passed by the National Company Law Tribunal, Kolkata Bench. The original order directed Kolkata Port Trust (KOPT) to cooperate with the Liquidator in the valuation of assets, but restricted the Liquidator from entering the premises to take valuation. The Liquidator filed CA(IB) No. 225/KB/2018.

## Facts

The Board of Trustees for the Port of Kolkata filed an appeal against a portion of an order issued on May 4, 2018, by the National Company Law Tribunal (NCLT), Kolkata Bench. The NCLT order pertained to CA(IB) No. 225/KB/2018, filed by the Liquidator, which directed Kolkata Port Trust (KOPT) to cooperate with the Liquidator in the valuation of assets. However, the NCLT order restricted the Liquidator from entering the premises to conduct the valuation. The Liquidator argued that KOPT had not responded despite being given more than a month. The appellate tribunal found merit in the Liquidator's submissions and directed KOPT to cooperate with the Liquidator in the valuation of assets. The tribunal allowed the Liquidator to conduct the valuation freely in the presence of

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## Issues and analysis

### Issue 1: Whether the Kolkata Port Trust (KOPT) should be directed to cooperate with the Liquidator in the …

**Ratio:** The principle of cooperation between parties involved in insolvency proceedings is

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**Reasoning:** The appellate tribunal found force in the submissions of the Liquidator, indicating that

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**Interpretation:** This interpretation emphasizes the importance of cooperation in insolvency

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**Application:** The tribunal applied this principle by directing KOPT to cooperate with the

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** The Board of…
- **Respondents:** Stewarts & Lloyds…

## Timeline

- **2018-05-04 — Original Order…**: National Company Law Tribunal, Kolkata Bench, passed an order in CA(IB) No. 225/KB/2018…
- **2018-10-03 — Appeal by Board of…**: The Board of Trustees for the Port of Kolkata appealed against part of the order dated…

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