# Approval of Resolution Plan - Electrosteel Steels Limited

> NCLT judgment dated 2018-04-17. Citation: TCN-2018-NCLT-01536. The document pertains to multiple CA(IB) applications filed in relation to CP(IB) No.…

- **Court:** NCLT
- **Order date:** 17 Apr 2018
- **Citation:** TCN-2018-NCLT-01536
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/approval-of-resolution-plan-electrosteel-steels-limited-39d60fa6

## Summary

### Background

The document pertains to multiple CA(IB) applications filed in relation to CP(IB) No. 361/KB/2017 involving State Bank of India and Electrosteel Steels Ltd. CA(IB) No. 336/KB/2018 was filed by workmen seeking relief due to potential infringement of employment rights. CA(IB) No. 345/KB/2018 was filed by a director of the corporate debtor seeking review of a disputed operational creditor's claim. The approval of the Resolution Plan is under consideration.

## Facts

State Bank of India initiated Corporate Insolvency Resolution Process against Electrosteel Steels Ltd. Some workmen jointly filed CA(IB) No. 336/KB/2018 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking relief due to potential infringement of their employment rights. A director of Electrosteel Steels Ltd. filed CA(IB) No. 345/KB/2018 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking review of the claim of a disputed operational creditor and the decision taken by the Resolution Professional. The Resolution Plan approval is under consideration.

## Issues and analysis

### Issue 1: Whether CA(IB) No. 336/KB/2018 filed by the workmen should be allowed, considering the stage of the …

**Ratio:** Applications filed late in the Corporate Insolvency Resolution Process, especially when

…

**Reasoning:** The court dismissed the application because it was filed at the 'fag end' of the

…

**Interpretation:** This indicates a reluctance to entertain applications that could potentially

…

**Application:** The court applied this principle by dismissing the workmen's application, as it

…

## Parties

- **Judges:** Jinan…; Madan B.…
- **Respondents:** Electrosteel…

## Timeline

- **2017-01-01 — CP(IB) No.361…**: Corporate Insolvency Resolution Process…
- **2018-04-17 — Hearing…**: Hearing on CA(IB)…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/approval-of-resolution-plan-electrosteel-steels-limited-39d60fa6