# In the matter of OCL Iron and Steel Limited CP (IB) No.183-CB -2020, TP No.07-CTB-2019 (earlier, CP (B) No.160-KB-2019), CP (B)
No.171-CTB-2019, IA No. 246-CB-2020 in CP (B) No.06-CTB-2020, CP (B) No.07-CTB-2020, CP (IB) No.31-CTB-2020, CP (IB) No.66-CTB-2020 and CP (IB) 257-CB-2020

> NCLT judgment dated 2021-09-21. Citation: TCN-2021-NCLT-01046. The case involves multiple company petitions filed by various creditors against OCL Iron and…

- **Court:** NCLT
- **Order date:** 21 Sept 2021
- **Citation:** TCN-2021-NCLT-01046
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ocl-iron-and-steel-limited-cp-ib-no183-cb-2020-tp-no07-ctb-2019-earlier-cp-b-no1-f786685d

## Summary

### Background

The case involves multiple company petitions filed by various creditors against OCL Iron and Steel Limited, the Corporate Debtor. These petitions were filed under Section 7 and 9 of the IBC. The petitions were consolidated and heard by the National Company Law Tribunal (NCLT), Cuttack Bench. The order of admission was passed on 20.09.2020 in CP (IB) No.111/CTB/2020.

## Facts

The key facts are as follows: OCL Iron and Steel Limited is the Corporate Debtor. An order of admission was passed against the Corporate Debtor on 20.09.2020 in CP (IB) No.111/CTB/2020. Several other creditors subsequently filed company petitions against the same Corporate Debtor. These petitions include CP (IB) No.183/CB/2020, TP No.07/CTB/2019, CP (IB) No.171/CTB/2019, CP (IB) No.06/CTB/2020, CP (IB) No.07/CTB/2020, CP (IB) No.31/CTB/2020, CP (IB) No.66/CTB/2020, and CP (IB) 257/CB/2020. The creditors are State Bank of India, KEC International Ltd, Gajanan Ferro Pvt Ltd, Dharam Pal, BD Construction Co., Alloysmin India Pvt Ltd, and Global Coal & Mining Pvt Ltd. Mr. Shiv Nandan Sharma is the appointed Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the company petitions filed by various creditors against OCL Iron and Steel Limited should …

**Ratio:** When an order of admission has already been passed against a Corporate Debtor, subsequent

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**Reasoning:** The Tribunal reasoned that since an insolvency resolution process has already been

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**Interpretation:** This interpretation ensures that the insolvency resolution process is

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**Application:** The Tribunal applied this principle to the present case, noting that an

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## Parties

- **Judges:** Rajasekha…; Satya Ranjan…
- **Appellants:** State Bank of…
- **Respondents:** OCL Iron & Steel…; OCL Iron and…; +1 more

## Timeline

- **2020-09-20 — Admission…**: Order of admission passed in CP (IB)…
- **2021-09-21 — Order Is…**: Final order issued dismissing…

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