# In the matter of Nibula Print and Pack Pvt. Ltd. (IB)-1138(ND)2018

> NCLT judgment dated 2019-04-30. Citation: TCN-2019-NCLT-03608. The case involves M/s RJ Packwells Pvt. Ltd. V/s. Nibula Print and Pack Pvt. Ltd. before the…

- **Court:** NCLT
- **Order date:** 30 Apr 2019
- **Citation:** TCN-2019-NCLT-03608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nibula-print-and-pack-pvt-ltd-ib-1138nd2018-44e70daa

## Summary

### Background

The case involves M/s RJ Packwells Pvt. Ltd. V/s. Nibula Print and Pack Pvt. Ltd. before the New Delhi Bench of the National Company Law Tribunal. The Statutory Auditor filed a reply to a Contempt Petition, stating that the audit was based on a computerised statement maintained by the Corporate Debtor in an ERP format. The Counsel for the contemnor submitted that they had furnished details of the Bank account to the RP, which was disputed by the Counsel appearing for the RP.

## Facts

The case involves a dispute between M/s RJ Packwells Pvt. Ltd. and Nibula Print and Pack Pvt. Ltd. A contempt petition was filed, and the Statutory Auditor submitted a reply stating that the audit was based on computerised statements provided by the Corporate Debtor. The Counsel for the contemnor claimed to have furnished all necessary bank account details to the RP, but this was disputed by the RP's Counsel. The court ordered the issuance of non-bailable warrants against Mr. Itenderpal Singh and two suspended directors. Notice was issued to Mr. Vikram Sarin, Director of M/s. Vig. Graphics. The contemnor was discharged of contempt, pending a further progress report from the RP. The case was re-notified for further consideration on May 3rd and then May 15th, 2019.

## Issues and analysis

### Issue 1: Whether the Statutory Auditor's reply to …

**Ratio:** The court assesses the Statutory Auditor's reply based on its completeness, accuracy, and

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**Reasoning:** The court considers the Statutory Auditor's explanation of how the audit was conducted,

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**Interpretation:** This involves interpreting the standards and procedures for conducting

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**Application:** The court applies the relevant legal principles and standards to the specific

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** M/s RJ Packwells…
- **Respondents:** Nibula Print &…
- **Advocates:** Shailendra…; Arush K…; +1 more

## Timeline

- **2019-04-30 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-05-03 — Renotify…**: Case re-notified for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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