# In the matter of Aradhya Wire and Ropes Pvt. Ltd. CP (IB) No. 366-BB-2019

> NCLT judgment dated 2021-12-10. Citation: TCN-2021-NCLT-00202. The case pertains to CP (IB) No.366/BB/2019 before the National Company Law Tribunal, Bengaluru…

- **Court:** NCLT
- **Order date:** 10 Dec 2021
- **Citation:** TCN-2021-NCLT-00202
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aradhya-wire-and-ropes-pvt-ltd-cp-ib-no-366-bb-2019-9a7ed85c

## Summary

### Background

The case pertains to CP (IB) No.366/BB/2019 before the National Company Law Tribunal, Bengaluru Bench. The matter involves M/s. Aradhya Wire and Ropes Pvt Ltd. The order is under Section 10 of the Insolvency & Bankruptcy Code, 2016.

## Facts

The case involves M/s. Aradhya Wire and Ropes Pvt Ltd. The Liquidator filed progress reports for the period 01.01.2021 to 30.09.2021. The promoters of the Corporate Debtor proposed a revival of the company and settled with the Sole Creditor/South Indian Bank. The relevance of these facts is that they indicate progress in the insolvency resolution process and a potential settlement.

## Issues and analysis

### Issue 1: Whether the progress reports filed by the …

**Ratio:** The court has the power to take documents and reports on record to facilitate the

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**Reasoning:** The court acknowledged the submission of the progress reports by the Liquidator's counsel

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**Interpretation:** The court's action indicates that it is essential to maintain a record of the

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**Application:** The court's decision to take the progress reports on record demonstrates the

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## Parties

- **Judges:** SH. AJAY KUMAR…; SH. MANOJ KUMAR…
- **Appellants:** M/s. Aradhya Wire…

## Timeline

- **2021-01-01 — Progress Reports Period…**: Start date of the period for which the…
- **2021-09-30 — Progress Reports Period…**: End date of the period for which the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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