# In the matter of BP Ferrium Industries Pvt. Ltd. CP (IB) No. 328-7-HDB-2020

> NCLT judgment dated 2021-01-21. Citation: TCN-2021-NCLT-03253. The case involves a company petition/application under CP(IB) No.328/7/HDB/2020 before the…

- **Court:** NCLT
- **Order date:** 21 Jan 2021
- **Citation:** TCN-2021-NCLT-03253
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bp-ferrium-industries-pvt-ltd-cp-ib-no-328-7-hdb-2020-08449b06

## Summary

### Background

The case involves a company petition/application under CP(IB) No.328/7/HDB/2020 before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Corporate Debtor was already admitted in another CP bearing CP(IB)No313/7/HDB/2020 by order dated 18.01.2021.

## Facts

The key facts are as follows: BP Ferrium Industries Pvt Ltd is the company involved. Bharani Commodities Pvt Ltd is the petitioner. BP Ferrium Industries Pvt Ltd is also the respondent. The case is under Section 7 of the IBC. The Corporate Debtor was already admitted into CIRP under CP(IB)No313/7/HDB/2020 by order dated 18.01.2021. The Financial Creditor is granted liberty to approach the IRP/RP in the existing CIRP proceedings. The Operational Creditor is granted liberty to get the petition revised if the CIRP is set aside.

## Issues and analysis

### Issue 1: Whether the Financial Creditor should be allowed to pursue its claim in the existing CIRP …

**Ratio:** When a Corporate Debtor is already undergoing CIRP in another proceeding, creditors

…

**Reasoning:** The court reasoned that since the Corporate Debtor was already admitted into CIRP under

…

**Interpretation:** This interprets the IBC to mean that once CIRP is initiated, all claims against

…

**Application:** The ratio is applied by granting the Financial Creditor the liberty to approach

…

## Parties

- **Judges:** Madan B.…; Dr.Binod Kumar…
- **Appellants:** Bharani Commoditie…
- **Respondents:** BP Ferrium…

## Timeline

- **2021-01-21 — Hearing…**: Hearing of the National Company Law Tribunal, Hyderabad Bench, held on 21.01.2021 at…
- **2021-01-18 — Order Date of Previous…**: Corporate Debtor already admitted in other CP bearing CP(IB)No313/7/HDB/2020 by order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/bp-ferrium-industries-pvt-ltd-cp-ib-no-328-7-hdb-2020-08449b06