# In the matter of Multiwal Pulp and Board Pvt. Ltd. (IB)-711(PB)-2019

> NCLT judgment dated 2019-05-21. Citation: TCN-2019-NCLT-03235. The case involves petitions filed by OGO USA INC. against Multiwal Pulp and Board Mills Pvt.…

- **Court:** NCLT
- **Order date:** 21 May 2019
- **Citation:** TCN-2019-NCLT-03235
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/multiwal-pulp-and-board-pvt-ltd-ib-711pb-2019-ac8b92ce

## Summary

### Background

The case involves petitions filed by OGO USA INC. against Multiwal Pulp and Board Mills Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The necessity of going into the merit of the claim made by the petitioners is obviated because in respect of the Corporate Debtor, another petition namely Corporation Bank v. M/s. Multiwal Pulp and Board Mills Private Limited, [(IB)-343(PB)/2019] vide order dated 21.05.2019 (pronounced today) has been admitted.

## Facts

OGO USA INC. filed petitions against Multiwal Pulp and Board Mills Pvt. Ltd. under Section 7 of the IBC, 2016. Prior to a decision on these petitions, another petition filed by Corporation Bank against the same corporate debtor, Multiwal Pulp and Board Mills Private Limited, was admitted on 2019-05-21. This admission triggered the application of Section 11 of the IBC, which prohibits the initiation of another CIRP against a corporate debtor already undergoing one. The Insolvency Professional appointed for the CIRP initiated by Corporation Bank is Mr. Manish Agarwal. The court dismissed OGO USA INC.'s petitions as infructuous, but allowed for the possibility of revival or a fresh petition if the Appellate Tribunal sets aside the order admitting Corporation Bank's

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## Issues and analysis

### Issue 1: Whether the petitions filed by OGO USA INC. against Multiwal Pulp and Board Mills Pvt. Ltd. can …

**Ratio:** Section 11 of the IBC, 2016, prohibits the initiation of another Corporate Insolvency

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**Reasoning:** The court reasoned that since Corporation Bank's petition against Multiwal Pulp and Board

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**Interpretation:** Section 11 is interpreted to prevent multiple, simultaneous CIRPs against the

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**Application:** Since Corporation Bank's petition was admitted first, Section 11 applies,

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** OGO USA…
- **Respondents:** Multiwal Pulp and…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and Bankruptcy…
- **2019-05-21 — Admission of Corporation…**: Corporation Bank's petition against Multiwal Pulp and Board Mills Private Limited was…

## 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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