# In the matter of Excel Glasses Ltd. MA(IBC)-03-KOB-2021 in IBA-258-2019

> NCLT judgment dated 2021-04-30. Citation: TCN-2021-NCLT-02248. The case arises from an application filed by the Liquidator under Section 60(5)(c) of the…

- **Court:** NCLT
- **Order date:** 30 Apr 2021
- **Citation:** TCN-2021-NCLT-02248
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/excel-glasses-ltd-maibc-03-kob-2021-in-iba-258-2019-9f9cc99b

## Summary

### Background

The case arises from an application filed by the Liquidator under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, seeking directions from the Tribunal for police protection and assistance. The Corporate Insolvency Resolution Process (CIRP) was initiated against Excel Glasses Limited, and the application was admitted by the NCLT Chennai Bench. Liquidation proceedings were subsequently initiated, and a liquidator was appointed. The liquidator conducted an e-auction where Rajeswari Glass wares became the successful bidder for the assets of the Corporate Debtor. However, the ex-workmen of the Corporate Debtor obstructed the auction purchaser from taking possession of the assets.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Excel Glasses Limited, and the application was admitted by the NCLT Chennai Bench on 2019-03-26. Liquidation proceedings were initiated against the Corporate Debtor on 2019-10-21, and a liquidator, Shri Ravindra Chaturvedi, was appointed. The liquidator issued a public announcement inviting claims from creditors, with a submission deadline of 2019-11-20. Employees/workmen challenged the Liquidation Order before the Kerala High Court, which disposed of the petition, stating that grievances against the Liquidator's decisions are appealable under Section 42 of the Code. The liquidator conducted an e-auction, and Rajeswari Glass wares became the successful bidder for the assets. However, ex-workmen of

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## Issues and analysis

### Issue 1: Whether the Tribunal should grant police protection to enable the auction purchaser to take …

**Ratio:** The Tribunal has the power under Section 60(5)(c) of the Insolvency and Bankruptcy Code,

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**Reasoning:** The Tribunal reasoned that the obstruction by the ex-workmen of the Corporate Debtor was

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**Interpretation:** Section 60(5)(c) of the IBC provides the NCLT with broad powers to deal with

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**Application:** The Tribunal applied the ratio to the specific facts of the case, noting that

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## Parties

- **Judges:** Ashok Kumar…
- **Appellants:** Ravindra Chaturved…
- **Respondents:** Excel Glasses…; M/s. Boon…

## Timeline

- **2019-03-26 — CIRP Admi…**: The Application for Corporate Insolvency Resolution Process filed by Boon Investment and…
- **2019-10-21 — Liquidation In…**: Liquidation Proceedings were…

## 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)

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