# In the matter of Lloyd Insulations India Limited & 2 Others MA-736-2019 in CP-511-IB-CB-2017

> NCLT judgment dated 2019-08-09. Citation: TCN-2019-NCLT-01984. The matter pertains to MA/736/2019 filed in CP/511/IB/CB/2017 by M/s. Cethar Vessels Workers…

- **Court:** NCLT
- **Order date:** 9 Aug 2019
- **Citation:** TCN-2019-NCLT-01984
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/lloyd-insulations-india-limited-2-others-ma-736-2019-in-cp-511-ib-cb-2017-a636564f

## Summary

### Background

The matter pertains to MA/736/2019 filed in CP/511/IB/CB/2017 by M/s. Cethar Vessels Workers Union, stating that the claims of the employees have not been considered by the Liquidator. The Liquidator stated that he has not rejected the claims of the employees.

## Facts

M/s. Cethar Vessels Workers Union filed an application (MA/736/2019) in CP/511/IB/CB/2017, alleging that the Liquidator had not considered the claims of the employees. The Liquidator stated that he had not rejected the claims and would send an email with the names of employees whose claims were admitted. The Union did not provide evidence that claims had been rejected or that the individuals were still employees. This lack of evidence was critical to the court's decision.

## Issues and analysis

### Issue 1: Whether the application filed by Cethar Vessels Workers Union regarding the non-consideration of …

**Ratio:** An application is not maintainable if the Liquidator has not rejected the claims and is

…

**Reasoning:** The court reasoned that since the Liquidator stated he would provide information on

…

**Interpretation:** The court interpreted the situation as one where the Liquidator was taking

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**Application:** The ratio and reasoning were applied to the specific facts, leading the court

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## Parties

- **Judges:** B.S.V. Prakash…; Anil Ku…
- **Appellants:** M/s. Cethar…
- **Respondents:** M/s Cethar…; M/s. Lioyd…

## Timeline

- **2017-01-01 — CP/511/IB/CB/2…**: The initial Corporate Insolvency Resolution Process (CIRP) application CP/511/IB/CB/2017…
- **2019-08-08 — Hearing and Dictation…**: The matter was heard and…

## 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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