# In the matter of Mr. Gursharan Singh Vs. The State Trading Corporation of India Ltd. and Anr. I.A. No.2596 of 2019 in CA (AT) (Ins) No. 853 of 2019

> NCLAT judgment dated 16 Mar 2021. Citation: TCN-2021-NCLAT-00321. The appeal was filed by a Director and Shareholder of the Corporate Debtor against an order…

- **Court:** NCLAT
- **Order date:** 16 Mar 2021
- **Citation:** TCN-2021-NCLAT-00321
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ts-party-gursharan-singh-vs-ts-party-t-h-e-state-trading-corporation-o-f-india-l-02e63297

## Summary

### Background

The appeal was filed by a Director and Shareholder of the Corporate Debtor against an order admitting an application under Section 9 of the IBC, claiming the order was passed ex-parte and seeking condonation of delay in filing the appeal.

## Facts

The State Trading Corporation of India Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Spacevision Impex Pvt. Ltd., the corporate debtor. The Adjudicating Authority (NCLT, New Delhi) admitted the application on May 8, 2019, initiating the Corporate Insolvency Resolution Process (CIRP). Mr. Gursharan Singh, a Director and Shareholder of the corporate debtor, filed an appeal against this order, along with an application for condonation of delay.

## Issues and analysis

### Issue 1: Whether there was sufficient cause for…

**Ratio:** The NCLAT held that the appellant's bare statement of lack of knowledge was not…

**Reasoning:** The appellant claimed he learned of the ex-parte order on June 25, 2019, after returning…

**Interpretation:** The NCLAT interpreted the appellant's actions as an attempt to make claims of…

**Application:** Even assuming the latest possible date of knowledge as June 7, 2019, the…

## Parties

- **Judges:** A.I.S. Chee…
- **Appellants:** Gursharan…
- **Respondents:** The State Trading…; Spacevision Impex…
- **Other parties:** Devinder…; Sucheta…; +2 more
- **Advocates:** Nikhil N…; Naveen Kr.…; +3 more

## Timeline

- **May 8, 2019 — Application A…**: NCLT, New Delhi, admitted the application under Section 9 of IBC, initiating CIRP against…
- **May 30, 2019 — IRP Sent Commu…**: The IRP sent a letter to the corporate debtor and its directors, including the appellant,…

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