# 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-00078. 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-00078
- **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-2019-77169ff4

## 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

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## Facts

The H.I.W. Workers' Union filed an Interlocutory Application (IA No.212/CTB/2020) under Section 60(5) of the IBC against Nandakini Contractors Private Limited (Financial Creditor), Hirakud Industrial Works Limited (Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional). The Union sought to maintain the status quo of the Corporate Debtor's land due to concerns about illegal development activity. The Adjudicating Authority had previously issued directions in CP(IB) No. 01/CTB/2019, but subsequent hearings were delayed due to the COVID-19 pandemic. The Union alleged that unknown persons had entered the Corporate Debtor's land and started development activity, prompting complaints to the Government of Odisha and requests to the Resolution Professional to

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## Issues and analysis

### Issue 1: Whether the Interlocutory Application seeking to maintain status quo of the Corporate Debtor's land …

**Ratio:** The principle of maintaining status quo is generally applied to preserve the existing

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**Reasoning:** The court dismissed the application because separate orders had already been passed in

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**Interpretation:** The interpretation is that if the issue of status quo has already been

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**Application:** In this case, the court found that the issue of maintaining status quo had

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## Parties

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

## Timeline

- **2019-01-01 — CP(IB) No. 01/…**: Initial Corporate Insolvency…
- **2020-02-28 — Adjudicating Authority…**: The 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)

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