# In the matter of Excel Glasses Limited MA/221/KOB/2020 & MA/222/KOB/2020 in IBA/258/2019(Chennai Bench)

> NCLT judgment dated 2021-11-18. Citation: TCN-2021-NCLT-00458. These appeals were filed by the Petitioners/Appellants, who were workmen/employees of Excel…

- **Court:** NCLT
- **Order date:** 18 Nov 2021
- **Citation:** TCN-2021-NCLT-00458
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/excel-glasses-limited-ma221kob2020-ma222kob2020-in-iba2582019chennai-bench-660bf9f3

## Summary

### Background

These appeals were filed by the Petitioners/Appellants, who were workmen/employees of Excel Glasses Limited, under Section 42 of the Insolvency & Bankruptcy Code, 2016, aggrieved by the liquidator's decision regarding claims of workmen/employees. An application under Section 7 of the IBC, 2016, was filed against Excel Glasses Limited before the NCLT, Chennai Bench, by Boon Investment and Trading Company Private Limited. The application was admitted on March 26, 2019, initiating the Corporate Insolvency Resolution Process (CIRP). As no resolution plan was received, an order for liquidation was passed on October 21, 2019, and Mr. Ravindra Chaturvedi was appointed as the Liquidator. The Liquidator issued a public announcement on October 21, 2019, calling upon

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## Facts

The Petitioners/Appellants, workmen/employees of Excel Glasses Limited, filed appeals under Section 42 of the Insolvency & Bankruptcy Code, 2016, challenging the liquidator's decision regarding their claims. Boon Investment and Trading Company Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Excel Glasses Limited by filing an application under Section 7 of the IBC, 2016, which was admitted on March 26, 2019. With no resolution plan received during CIRP, liquidation was ordered on October 21, 2019, and Mr. Ravindra Chaturvedi was appointed as Liquidator. The Liquidator issued a public announcement on October 21, 2019, requesting stakeholders to submit claims by November 20, 2019. The Appellants submitted Form E claims, but later

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## Issues and analysis

### Issue 1: Whether the appellants are entitled to the full amount of their claims, including gratuity, salary …

**Ratio:** The ratio is that claims must be supported by sufficient evidence and adherence to

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**Reasoning:** The court reasoned that the appellants failed to provide sufficient proof of their

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**Interpretation:** This issue involves the interpretation of Section 42 of the IBC, 2016, which

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** RAJESH S…; Ashok Kumar…
- **Appellants:** Sabu…
- **Respondents:** Excel Glasses…; Shri. Ravindra…

## Timeline

- **2019-03-26 — Application A…**: Application under Section 7 of IBC, 2016, filed by Boon Investment and Trading Company…
- **2019-10-21 — Liquidation…**: Order for Liquidation of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 36(2) — Liquidation estate](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-36)

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