# In the matter of Forgings Pvt. Ltd. (IB)-455(PB)-2017

> NCLT judgment dated 2020-03-03. Citation: TCN-2020-NCLT-01692. The case involves applications filed by the applicant seeking relief against the Liquidator and…

- **Court:** NCLT
- **Order date:** 3 Mar 2020
- **Citation:** TCN-2020-NCLT-01692
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/forgings-pvt-ltd-ib-455pb-2017-1d5c3b0d

## Summary

### Background

The case involves applications filed by the applicant seeking relief against the Liquidator and the sole financial creditor, Indiabulls Housing Finance Ltd. The applicant's counsel has undertaken to provide a calculation sheet demonstrating errors in the admission of claim by the Liquidator.

## Facts

The case involves applications filed by an applicant seeking relief against the Liquidator and Indiabulls Housing Finance Ltd., the sole financial creditor. The applicant's counsel has committed to providing a calculation sheet to demonstrate errors in the Liquidator's admission of claim. The court has scheduled further consideration of the matter for March 6, 2020, pending the submission of the calculation sheet. The core issue revolves around the accuracy of the Liquidator's claim admission, which the applicant disputes.

## Issues and analysis

### Issue 1: Whether the applications filed by the applicant seeking relief against the Liquidator should be …

**Ratio:** The decision on granting relief depends on the evidence presented and the applicable

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**Reasoning:** The court will consider the merits of the applications based on the evidence and

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**Interpretation:** The interpretation of relevant sections of the Insolvency and Bankruptcy Code,

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**Application:** The ratio and reasoning will be applied to the specific facts of the case,

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## Parties

- **Judges:** DEEPTI M…; SH. S.K MOH…
- **Appellants:** M/s. Indiabulls…
- **Respondents:** M/s Forging Pvt.…

## Timeline

- **2020-03-03 — Order Del…**: Order delivered on…
- **2020-03-06 — Further Consi…**: List for further…

## 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)

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