# In the matter of Mosmetro India Pvt. Ltd. TCP-528-(IB)-2017

> NCLT judgment dated 2017-10-13. Citation: TCN-2017-NCLT-00286. The case involves a petition under TCP/528/(IB)/2017. The Interim Resolution Professional (IRP)…

- **Court:** NCLT
- **Order date:** 13 Oct 2017
- **Citation:** TCN-2017-NCLT-00286
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/mosmetro-india-pvt-ltd-tcp-528-ib-2017-653bfdf3

## Summary

### Background

The case involves a petition under TCP/528/(IB)/2017. The Interim Resolution Professional (IRP) filed a memo stating that City Bank, Tamil Nadu Mercantile Bank, Chennai Metro Rail Limited, and Chennai Vendors Association are not cooperating with her. The respondent and abovementioned parties are not abiding by the orders of the Adjudicating Authority passed on 2017-09-01, which declared a moratorium.

## Facts

The Interim Resolution Professional (IRP), Ms. Chitra Srinivas, reported a lack of cooperation from City Bank, Tamil Nadu Mercantile Bank, Chennai Metro Rail Limited, and Chennai Vendors Association. These parties were allegedly not abiding by the Adjudicating Authority's order from 2017-09-01, which imposed a moratorium. The IRP sought the court's intervention to ensure compliance and protect the corporate debtor's assets. The respondent, Mosmetro India Pvt Ltd, was represented by Shri Vijay Mehta, Power of Attorney holder. The court heard the IRP's concerns and issued directives to the involved parties.

## Issues and analysis

### Issue 1: Whether City Bank, Tamil Nadu Mercantile Bank, Chennai Metro Rail Limited, and Chennai Vendors …

**Ratio:** The legal principle is that all stakeholders must cooperate with the IRP to ensure the

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**Reasoning:** The court reasoned that the IRP's role is crucial in managing the corporate debtor's

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**Interpretation:** This issue involves interpreting the duties and responsibilities of

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**Application:** The court applied this principle by directing Chennai Vendors Association and

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## Parties

- **Judges:** K. Anantha…
- **Appellants:** BASF Indi…
- **Respondents:** MOSMETRO INDIA…

## Timeline

- **2017-10-13 — Hearing…**: Hearing held at Chennai…
- **2017-09-01 — Moratorium D…**: Adjudicating Authority passed an…

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