# In the matter of Alok Industries Limited T.C.P. No. 454-(MAH)-2017

> NCLT judgment dated 2017-08-18. Citation: TCN-2017-NCLT-00577. The case involves H R Organo Chem Pvt. Ltd. versus Alok Industries Limited before the National…

- **Court:** NCLT
- **Order date:** 18 Aug 2017
- **Citation:** TCN-2017-NCLT-00577
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alok-industries-limited-tcp-no-454-mah-2017-9abb7e62

## Summary

### Background

The case involves H R Organo Chem Pvt. Ltd. versus Alok Industries Limited before the National Company Law Tribunal (NCLT), Mumbai Bench. The matter pertains to an application filed by the Respondent Debtor. An order from the NCLT, Ahmedabad Bench, dated 18.07.2017, indicates that insolvency proceedings have commenced against Alok Industries Limited, and an Interim Resolution Professional (IRP) has been appointed.

## Facts

H R Organo Chem Pvt. Ltd. filed a petition against Alok Industries Limited before the NCLT, Mumbai Bench. Alok Industries Limited is the Corporate Debtor. An application was filed on behalf of the Respondent Debtor. The NCLT, Ahmedabad Bench, had already initiated insolvency proceedings against Alok Industries Limited via an order dated 2017-07-18, and an IRP had been appointed. The Petitioner's counsel stated that the IRP has been appointed and the Committee of Creditors has been called. The address of the Debtor is 'Sylvasa' within the jurisdictional territory of the Ahmedabad Bench.

## Issues and analysis

### Issue 1: Whether the petition before the NCLT, Mumbai Bench, is maintainable given the ongoing insolvency …

**Ratio:** The principle applied is that when insolvency proceedings have already commenced against

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**Reasoning:** The court reasoned that since insolvency proceedings had already been initiated against

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**Interpretation:** This interpretation suggests that once insolvency proceedings are initiated

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** H R Organo Chem…
- **Respondents:** Alok Industries…
- **Advocates:** Jash D…; Ishan Ravin…; +3 more

## Timeline

- **2017-07-18 — NCLT Ahmedaba…**: NCLT, Ahmedabad Bench, issued an order commencing insolvency proceedings against Alok…
- **2017-08-18 — Hearing at NCLT Mumbai…**: Hearing at NCLT, Mumbai Bench, where the court noted the ongoing insolvency proceedings…

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