# In the matter of Nicco Corporation Ltd. MA  No. 257-KB-2018  in CP (IB) No. 03-2017

> NCLT judgment dated 2018-03-27. Citation: TCN-2018-NCLT-01631. The case involves an appeal against the Liquidator's rejection of a creditor's claim due to a…

- **Court:** NCLT
- **Order date:** 27 Mar 2018
- **Citation:** TCN-2018-NCLT-01631
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nicco-corporation-ltd-ma-no-257-kb-2018-in-cp-ib-no-03-2017-c4fa937b

## Summary

### Background

The case involves an appeal against the Liquidator's rejection of a creditor's claim due to a 75-day delay in lodging it. The creditor argued that the notice publication was in a local Odisha newspaper and not brought to their attention. The distribution process of the Corporate Debtor's assets was incomplete.

## Facts

A creditor lodged a claim with the Liquidator with a delay of 75 days. The Liquidator rejected the claim. The creditor appealed under Section 42 of the I&B Code, arguing that the notice of liquidation was published in a local newspaper in Odisha and was not brought to their attention. The distribution process of the Corporate Debtor's assets was not complete. The Liquidator sought leave to file an amended list of shareholders as per Regulation 31 of the IBBI (Liquidation Proceedings) Regulations. The delay in lodging the claim and the location of the newspaper publication are key facts.

## Issues and analysis

### Issue 1: Whether the delay in lodging the claim …

**Ratio:** Section 42 of the I&B Code allows for appeals against decisions made by the

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**Reasoning:** The court reasoned that since the distribution process of the Corporate Debtor's assets

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**Interpretation:** Section 42 provides a mechanism for creditors to challenge decisions made by

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**Application:** The court applied the principle of allowing appeals when the liquidation

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## Parties

- **Judges:** Jinan…; Madan B.…
- **Respondents:** Nicco Corporation…

## Timeline

- **2018-03-27 — Hearing…**: Hearing on I.A.No.257/KB/2018 regarding a…
- **2018-03-08 — Order Da…**: Date of the order by the Liquidator…

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