# In the matter of Nice projects Ltd. IA-943-2021 in (IB)-3042(ND)2019

> NCLT judgment dated 2021-02-24. Citation: TCN-2021-NCLT-02934. The Operational Creditor filed an application (IA/943/2021) under Rule 11 of the NCLT Rules,…

- **Court:** NCLT
- **Order date:** 24 Feb 2021
- **Citation:** TCN-2021-NCLT-02934
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nice-projects-ltd-ia-943-2021-in-ib-3042nd2019-6750fc26

## Summary

### Background

The Operational Creditor filed an application (IA/943/2021) under Rule 11 of the NCLT Rules, seeking to modify the order dated 12.02.2021 to the extent of the name of the IRP in para 22 of the said Order. The IRP's name was not initially proposed in the main application, but a subsequent application (IA/164/2021) filed on 13.01.2021 proposed the name. This subsequent application was heard on 18.01.2021, and it was ordered that the averment made in the application would be considered at the time of passing the Order.

## Facts

Varun Shuttering Store, the Applicant/Petitioner, filed an application IA/943/2021 seeking modification of the order dated 12.02.2021. The modification pertains to the name of the Interim Resolution Professional (IRP) in para 22 of the order. The initial application did not propose an IRP. Subsequently, an application IA/164/2021 was filed on 13.01.2021 proposing the name of the IRP. IA/164/2021 was heard on 18.01.2021, and it was ordered that the averment made in the application would be considered when passing the order. The applicant proposed Mr. Anil Tayal as the IRP. The existing IRP, Ms. Sunita Umesh, was to be replaced. The court considered the submissions and averments made in the application and the order dated 18.01.2021 passed in IA/164/2021. The name of the

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## Issues and analysis

### Issue 1: Whether the court should allow the modification of the order dated 12.02.2021 to substitute the …

**Ratio:** The court has the power to modify its orders to correct errors or omissions, especially

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**Reasoning:** The court reasoned that the name of the IRP proposed in IA/164/2021 was not included in

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**Interpretation:** This case interprets the court's inherent power to rectify its orders to

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**Application:** The ratio and reasoning are applied to the specific facts where a subsequent

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; Shri. L. N.…
- **Appellants:** Varun Shuttering…
- **Respondents:** M/s. Nice…

## Timeline

- **2021-01-04 — Order Res…**: The main application's…
- **2021-01-13 — Application…**: An application (IA/164/2021) was…

## 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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