# In the matter of Navayuga Infrastructure (India) Pvt. Ltd. CP(IB) No.432-9-HDB-2018

> NCLT judgment dated 2018-12-10. Citation: TCN-2018-NCLT-00133. The case involves a Company Petition/Application numbered CP(IB) No.432/9/HDB/2018. The initial…

- **Court:** NCLT
- **Order date:** 10 Dec 2018
- **Citation:** TCN-2018-NCLT-00133
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/navayuga-infrastructure-india-pvt-ltd-cpib-no432-9-hdb-2018-aea48b0a

## Summary

### Background

The case involves a Company Petition/Application numbered CP(IB) No.432/9/HDB/2018. The initial hearing was held on December 10, 2018. Several Interlocutory Applications (IAs) including IA No.158, 197, 254, 255, 256, 261, 475 & 458/2018 in CP (IB) No. 150/9/HDB/2018 were addressed. IA No. 458/2018 specifically concerns the rejection of claims by the Resolution Professional (RP). The RP had filed a counter and an application for making an order for liquidation, which is pending. The Petitioner sought directions to the liquidator not to consider certain observations while making fresh claims during the liquidation process. The Respondent in IA 458/2018 did not object to the Petitioner's prayer.

## Facts

Navayuga Infrastructure (India) Pvt Ltd initiated a corporate insolvency resolution process (CIRP) against Robo Silicon Pvt Ltd under Section 9 of the IBC. The Resolution Professional (RP) rejected certain claims, leading to IA No. 458/2018. The RP had also filed a counter and an application for liquidation. The petitioner sought directions to the liquidator regarding the consideration of fresh claims during the liquidation process. The respondent did not object to the petitioner's prayer. The court considered these submissions and closed IA No. 458/2018, reserving the claimants' rights during the liquidation process. The matter was adjourned for further hearing on January 2, 2019, and other IAs were scheduled for hearing on December 20, 2018. The key fact is the

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## Issues and analysis

### Issue 1: Whether the liquidator should consider the observations made by the RP while rejecting the claim …

**Ratio:** The principle is that the liquidation process should be fair and unbiased, and all claims

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**Reasoning:** The court reasoned that the liquidation process is a distinct phase from the CIRP, and

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**Interpretation:** This issue involves the interpretation of the Insolvency and Bankruptcy Code

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**Application:** The court applied this principle by directing that the claimants' rights be

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## Parties

- **Judges:** K Anatha Padmnabha…
- **Appellants:** Navayuga Infrastru…
- **Respondents:** Robo Silicon Pvt…
- **Advocates:** M. V.V.S.N…; A.B.N…; +2 more

## Timeline

- **2018-12-10 — Hearing…**: Hearing held on December…
- **2019-01-02 — Adjournmen…**: Matter adjourned to January 2,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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