# In the matter of Jaiprakash Associates Limited

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00302. M/S Sterling Industries and M/S Sterling Industrial Structures Private Limited filed…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00302
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/jaiprakash-associates-limited-d7d53104

## Summary

### Background

M/S Sterling Industries and M/S Sterling Industrial Structures Private Limited filed applications IA No. 102/2026 and IA No. 96/2026 respectively, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking admission of their claims against Jaiprakash Associates Limited, the Corporate Debtor. The applicants are small enterprises engaged in manufacturing MS and GI pipes. The dispute arose from a purchase order issued by Jaypee Sports International Ltd. (now Corporate Debtor) for the supply of roofing and cladding materials.

## Facts

M/S Sterling Industries and M/S Sterling Industrial Structures Private Limited filed applications seeking admission of claims against Jaiprakash Associates Limited.

The applicants supplied materials to Jaypee Sports International Ltd. (now Corporate Debtor) based on a purchase order dated 21.06.2011.

The Corporate Debtor defaulted on payments, leading to disputes and arbitration proceedings.

An arbitral award was issued in favor of the applicants, awarding a principal amount and interest.

The Corporate Debtor made partial payments towards the principal amount.

The applicants initiated execution proceedings to enforce the arbitral award.

The Resolution Professional rejected the applicants' claims, classifying them as 'other creditors'.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can assume parallel jurisdiction to determine and enforce a …

**Ratio:** The Adjudicating Authority cannot assume parallel jurisdiction to determine and enforce a

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**Reasoning:** Entertaining the present Application to determine the balance interest payable would, in

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**Interpretation:** Section 60(5) of the Code does not grant the Adjudicating Authority the power

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**Application:** The NCLT refused to entertain the application as execution proceedings were

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** M/S STERLING…; M/S STERLING…
- **Respondents:** Jaiprakash…
- **Other parties:** ICICI Bank…; Bhuvan…
- **Advocates:** Tarang Ag…; Dhairya…; +16 more

## Timeline

- **2011-06-21 — Purchase…**: Jaypee Sports International Ltd. issued…
- **2013-04-01 — Corporate Debt…**: The Corporate Debtor vide letter dated 01.04.2013, yet no remittance was made to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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