# In the matter of Ankur Roller Flour Mills Pvt. Ltd. IA-2850-ND-2020 in IB-2161-ND-2019

> NCLT judgment dated 2020-07-31. Citation: TCN-2020-NCLT-00922. Arun Kumar Goel, the applicant, filed an application to direct the Committee of Creditors (CoC)…

- **Court:** NCLT
- **Order date:** 31 Jul 2020
- **Citation:** TCN-2020-NCLT-00922
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ankur-roller-flour-mills-pvt-ltd-ia-2850-nd-2020-in-ib-2161-nd-2019-45a1717b

## Summary

### Background

Arun Kumar Goel, the applicant, filed an application to direct the Committee of Creditors (CoC) to consider the resolution plan submitted by the applicant, believing it would maximize the asset value of the Corporate Debtor, M/s Ankur Roller Flour Mills Pvt Ltd. The applicant also sought to restrain the CoC from approving any resolution plan without considering their own and to declare Regulation 36A of Insolvency and Bankruptcy Regulations, 2016 as null and void. The Resolution Professional (RP) had published Form G twice due to the COVID-19 pandemic, extending only the date for submission of the resolution plan. The applicant argued that they could not file the expression of interest within the prescribed time due to pending matters before their Board of Directors,

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## Facts

M/s Salasar Impex Limited, the applicant, sought to direct the Committee of Creditors (CoC) to consider its resolution plan for M/s Ankur Roller Flour Mills Pvt Ltd, the Corporate Debtor. An application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, was filed against the Corporate Debtor and admitted on 25.11.2019. The Respondent was appointed as an Insolvency Professional. The applicant claimed it could not submit its expression of interest within the stipulated time due to delays in its Board of Directors' approval, Holi holidays, and the COVID-19 pandemic. The RP published Form G twice, extending the deadline for resolution plan submission due to the lockdown. The initial deadline for expression of interest was 22.02.2020, and the date of issue

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can direct the Resolution Professional to accept a resolution …

**Ratio:** Regulation 36A (6) of the IBBI (Insolvency Professional Agencies) Regulation 2016 states

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**Reasoning:** The court reasoned that the applicant failed to submit the expression of interest within

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**Interpretation:** Regulation 36A (6) is interpreted strictly to mean that any expression of

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**Application:** Since the applicant failed to submit the expression of interest within the

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## Parties

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

## Timeline

- **2019-11-25 — Insolvency Commencement…**: Application u/s 9 of IBC admitted…
- **2020-01-18 — Information Memorandum…**: Respondent prepared Information…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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