# In the matter of IDEB Projects Pvt Ltd CP (IB) No.17-BB-2019

> NCLT judgment dated 2019-02-25. Citation: TCN-2019-NCLT-04696. The case involves an application for admission under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 25 Feb 2019
- **Citation:** TCN-2019-NCLT-04696
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ideb-projects-pvt-ltd-cp-ib-no17-bb-2019-12a252fe

## Summary

### Background

The case involves an application for admission under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by M/s Oriental Bank of Commerce against M/s IDEB Projects Pvt Ltd. The Tribunal noted that the bank had filed the petition leaving the consortium and that the counsel was not assisting the Tribunal effectively. The Registry was directed to notify the Chairman of Oriental Bank of Commerce to ensure appropriate bank representation.

## Facts

M/s Oriental Bank of Commerce filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against M/s IDEB Projects Pvt Ltd. The Tribunal observed that the bank had filed the petition without including the consortium. The Tribunal also noted the lack of assistance from the petitioner's counsel. An NCLAT order dated 15.02.2019 was referenced, emphasizing adherence to the IBC's timelines and objectives. The Tribunal expressed concern that the proceedings were not progressing as intended and could be derailed.

## Issues and analysis

### Issue 1: Whether the petitioner's counsel is providing adequate assistance to the Tribunal in the case filed …

**Ratio:** The Tribunal has a duty to ensure that all parties are adequately represented and that

…

**Reasoning:** The Tribunal observed that the counsel for Oriental Bank of Commerce was not taking any

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**Interpretation:** The Tribunal's observation highlights the importance of active participation

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**Application:** In this case, the Tribunal directed the Registry to issue notice to the

…

## Parties

- **Judges:** Rajeswara Rao…; Ashok Kumar…
- **Appellants:** M/s Oriental Bank…
- **Respondents:** M/s.IDEB Projects…; M/s IDEB Projects…

## Timeline

- **2019-02-25 — Hearing…**: The hearing was held on…
- **2019-02-06 — Order Da…**: The Tribunal passed an order on 06.02.2019 observing that Oriental Bank of Commerce has…

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