# In the matter of Ankur Roller Flour Mills Pvt. Ltd. IA-2595-2020 in IB-2161-ND-2019

> NCLT judgment dated 2020-07-15. Citation: TCN-2020-NCLT-01032. Arun Kumar Goel filed an application to direct the Resolution Professional to present the…

- **Court:** NCLT
- **Order date:** 15 Jul 2020
- **Citation:** TCN-2020-NCLT-01032
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ankur-roller-flour-mills-pvt-ltd-ia-2595-2020-in-ib-2161-nd-2019-5e068cb1

## Summary

### Background

Arun Kumar Goel filed an application to direct the Resolution Professional to present the applicant's Resolution Plan to the Committee of Creditors (CoC) and to restrain the CoC from approving any resolution plan without considering the applicant's plan. The applicant also sought a direction for the CoC to consider their resolution plan on its merits, believing it would maximize the asset value of the Corporate Debtor. The Resolution Professional published an Invitation for Expression of Interest, which was revised due to the national lockdown. The applicants submitted their resolution plan after the initial deadline, citing difficulties accessing Form G due to a typographical error in the Corporate Debtor's CIN number. The applicants argued that the delay in

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## Facts

Arun Kumar Goel filed an application seeking to direct the Resolution Professional (RP) to present their resolution plan to the Committee of Creditors (CoC) and to restrain the CoC from approving any plan without considering theirs. The RP had published an Invitation for Expression of Interest (EOI) in Form G, which was later revised due to the COVID-19 lockdown. The applicants submitted their resolution plan after the initial deadline. They claimed they faced difficulties accessing Form G due to a typographical error in the Corporate Debtor's CIN number. The applicants argued that their delay in submitting the EOI should be condoned, citing that it was unintentional and that their plan would maximize the asset value of the Corporate Debtor. The CoC comprises only one

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## Issues and analysis

### Issue 1: Whether the delay in submitting the Expression of Interest (EOI) by the applicant should be …

**Ratio:** The expression of interest must be received within the time published in Form G as

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**Reasoning:** The court reasoned that the applicants failed to submit their expression of interest

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**Interpretation:** Regulation 36A(6) of the IBBI (Insolvency Professional Agencies) Regulations,

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**Application:** The applicants' failure to submit the EOI within the prescribed period, despite

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; K.K. V…
- **Appellants:** ARUN KUMA…
- **Respondents:** M/s Ankur Roller…

## Timeline

- **2020-02-06 — Invitation for…**: Resolution Professional published the…
- **2020-02-22 — Last Date of Receipt of…**: The last date of receipt of the…

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