# In the matter of Oren Hydrocarbons Pvt. Ltd. IBA-428-2020

> NCLT judgment dated 2021-03-03. Citation: TCN-2021-NCLT-02838. The case involves an application under Section 9 of the IBC, 2016. The Registry informed the…

- **Court:** NCLT
- **Order date:** 3 Mar 2021
- **Citation:** TCN-2021-NCLT-02838
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/oren-hydrocarbons-pvt-ltd-iba-428-2020-a011f278

## Summary

### Background

The case involves an application under Section 9 of the IBC, 2016. The Registry informed the Tribunal that the Corporate Debtor is already under the Corporate Insolvency Resolution Process (CIRP) based on an order dated 24.02.2021 in IBA/938/2019. Mr. Asokan Nagarajan has been appointed as the Interim Resolution Professional (IRP).

## Facts

Seaport Lines India Pvt Ltd filed an application under Section 9 of the IBC, 2016 against Oren Hydro Carbons Pvt Ltd. The Tribunal was informed that Oren Hydro Carbons Pvt Ltd was already undergoing Corporate Insolvency Resolution Process (CIRP) under IBA/938/2019, with Mr. Asokan Nagarajan appointed as the IRP. The order initiating CIRP was dated 24.02.2021. The petitioner, Seaport Lines India Pvt Ltd, was directed to file its claim with the IRP.

## Issues and analysis

### Issue 1: Whether the petitioner's claim should be considered by the IRP given the ongoing CIRP against the …

**Ratio:** The principle is that during an ongoing CIRP, all claims against the corporate debtor

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**Reasoning:** The Tribunal reasoned that since the Corporate Debtor was already undergoing CIRP, the

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**Interpretation:** This interprets the IBC to mean that once CIRP is initiated, all claims must be

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**Application:** The Tribunal applied this principle by directing Seaport Lines India Pvt Ltd to

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** Seaport Lines…
- **Respondents:** Oren Hydro…

## Timeline

- **2021-02-24 — Order for…**: Order passed in IBA/938/2019 placing Oren Hydro Carbons Pvt Ltd under Corporate…
- **2021-03-03 — Tribunal H…**: Tribunal hearing where the petitioner 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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