# In the matter of IAG Glass Co. Ltd. CA (IB) No. 673-KB-2018 In C.P (IB) No. 570-KB-2017

> NCLT judgment dated 2019-02-15. Citation: TCN-2019-NCLT-04834. The case pertains to C.P (IB) No. 570/KB/2017 and CA (IB) No. 673/KB/2018 before the National…

- **Court:** NCLT
- **Order date:** 15 Feb 2019
- **Citation:** TCN-2019-NCLT-04834
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/iag-glass-co-ltd-ca-ib-no-673-kb-2018-in-cp-ib-no-570-kb-2017-a512bfca

## Summary

### Background

The case pertains to C.P (IB) No. 570/KB/2017 and CA (IB) No. 673/KB/2018 before the National Company Law Tribunal, Kolkata Bench. The hearing was held on February 15, 2019. The matter involves IAG Glass Co. Ltd. under Section 10 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The case involves IAG Glass Co. Ltd. under Section 10 of the IBC. A Corporate Person appeared before the NCLT Kolkata bench. The Hon'ble High Court, Kolkata, vide order dated 30.01.2019, had already admitted CP No. 202 of 2013 in liquidation, and the Official Liquidator (OL) was directed to take possession of all assets of the corporate debtor. This prior admission of liquidation by the High Court is a key fact influencing the NCLT's decision.

## Issues and analysis

### Issue 1: Whether the application survives under Section 11 of the Insolvency & Bankruptcy Code, given …

**Ratio:** An application under the IBC does not survive if a prior order of liquidation has already

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**Reasoning:** The court reasoned that since the High Court had already admitted CP No. 202 of 2013 in

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**Interpretation:** Section 11 of the IBC is interpreted in the context of prior judicial orders.

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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:** Madan B.…
- **Respondents:** IAG Glass C…

## Timeline

- **2013-01-01 — CP No. 202…**: CP No. 202 of 2013 was…
- **2019-01-30 — High Court…**: The Hon'ble High Court, Kolkata, admitted CP No. 202 of 2013 in liquidation and directed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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