# In the matter of Hirakud Industries Works Limited IA No. 212-CTB-2020 in CP(IB) No. 01-CTB-2019

> NCLT judgment dated 2021-12-22. Citation: TCN-2021-NCLT-00081. The Interlocutory Application (IA No.212/CTB/2020) was filed by the H.I.W. Workers' Union under…

- **Court:** NCLT
- **Order date:** 22 Dec 2021
- **Citation:** TCN-2021-NCLT-00081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hirakud-industries-works-limited-ia-no-212-ctb-2020-in-cpib-no-01-ctb-2019-765e0c4a

## Summary

### Background

The Interlocutory Application (IA No.212/CTB/2020) was filed by the H.I.W. Workers' Union under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakud Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The applicant sought directions from the Adjudicating Authority to maintain the status quo regarding the nature and character of the lands belonging to the Corporate Debtor. In CP(IB) No. 01/CTB/2019, the Adjudicating Authority had previously issued directions to the petitioner and the Resolution Professional and posted the matter for further hearing on 20.03.2020. Due to the COVID-19 pandemic and subsequent

…

## Facts

The H.I.W. Workers' Union filed an Interlocutory Application (IA No.212/CTB/2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakund Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The Union sought the maintenance of status quo regarding the land belonging to Hirakund Industrial Works Limited. The Union alleged that unknown persons had entered the Corporate Debtor's land and started development activity, despite the moratorium under section 14 of the IBC. The Applicants lodged a complaint dated 27.07.2020 before the Government of Odisha authorities and brought to their notice the illegal

…

## Issues and analysis

### Issue 1: Whether the Interlocutory Application seeking maintenance of status quo regarding the land of the …

**Ratio:** The principle of maintaining status quo is generally applied to prevent irreversible

…

**Reasoning:** The court reasoned that in view of the separate orders passed in IA No.1/CTB/2020, IA No.

…

**Interpretation:** The court interpreted that the previous orders had already addressed the issue

…

**Application:** Since the court had already passed orders in related IAs, the application for

…

## Parties

- **Judges:** Rajasekha…; Satya Ranjan…
- **Appellants:** H.I.W. Workers'…
- **Respondents:** Hirakud Industrial…; Nandakini…

## Timeline

- **2019-01-01 — CP(IB) No. 01/…**: Filing of CP(IB) No.…
- **2020-02-28 — Order in CP(IB) No.…**: Adjudicating Authority issued directions to the petitioner and the Resolution…

## 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)

---

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/hirakud-industries-works-limited-ia-no-212-ctb-2020-in-cpib-no-01-ctb-2019-765e0c4a