# In the matter of Isolux Corsan India Engineering & Construction Pvt. Ltd. IA No. 52,237 & 240-2022
And Company Appeal No. 1-2022
In CP(IB) No. 97-Chd-Hry-2018

> NCLT judgment dated 2022-06-03. Citation: TCN-2022-NCLT-04706. The case involves an application under Section 7, 42 & 60(5) of the IBC 2016. It concerns IA…

- **Court:** NCLT
- **Order date:** 3 Jun 2022
- **Citation:** TCN-2022-NCLT-04706
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/isolux-corsan-india-engineering-construction-pvt-ltd-ia-no-52237-240-2022-and-co-9d163bc3

## Summary

### Background

The case involves an application under Section 7, 42 & 60(5) of the IBC 2016. It concerns IA No. 52/2022, 237/22, 240/22 and Company Appeal No. 1/22 in CP(IB) No. 97/Chd/Hry/2018.

## Facts

Oriental Bank of Commerce is the Petitioner-Financial Creditor.

Isolux Corsan India Engineering & Construction Pvt. Ltd is the Respondent-Corporate Debtor.

The case involves IA No. 52/2022, 237/22, 240/22 and Company Appeal No. 1/22 in CP(IB) No. 97/Chd/Hry/2018.

The tribunal directed the respondent to file a reply within three weeks.

The applicant is required to issue notice to the respondent(s) within four weeks.

The case is listed on 18.08.2022.

## Issues and analysis

### Issue 1: Whether the respondent should be …

**Ratio:** The tribunal has the power to regulate its own procedure and grant time for filing

…

**Reasoning:** Granting time ensures that all parties have an

…

**Interpretation:** The tribunal's decision to grant time is discretionary and aims to facilitate a

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**Application:** The tribunal granted the

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Oriental Bank of…
- **Respondents:** Isolux Corsan…
- **Advocates:** Nivedita C…; Arun Ba…; +2 more

## Timeline

- **2022-08-18 — Next Hearin…**: The case is listed for…
- **N/A — Reply Filing…**: Respondent to file…

## 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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