# In the matter of Oren Hydrocarbons Pvt. Ltd. IBA-444-2020

> NCLT judgment dated 2021-03-03. Citation: TCN-2021-NCLT-02842. The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 3 Mar 2021
- **Citation:** TCN-2021-NCLT-02842
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/oren-hydrocarbons-pvt-ltd-iba-444-2020-9676f359

## Summary

### Background

The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code (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

BD Edible Oil Pvt Ltd filed a petition against Oren Hydrocarbons Pvt Ltd under Section 9 of the IBC, 2016. During the proceedings, the Registry informed the Tribunal that Oren Hydrocarbons Pvt Ltd was already undergoing Corporate Insolvency Resolution Process (CIRP) vide an order dated 24.02.2021 in IBA/938/2019. Mr. Asokan Nagarajan was appointed as the Interim Resolution Professional (IRP). The key fact is the ongoing CIRP, which affects the maintainability of the Section 9 petition.

## Issues and analysis

### Issue 1: Whether the petition under Section 9 of the IBC, 2016 can be maintained when the Corporate Debtor …

**Ratio:** A petition under Section 9 of the IBC, 2016 is generally not maintainable if the

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

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**Interpretation:** The interpretation is that the IBC prioritizes a unified and consolidated

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**Application:** In this case, since Oren Hydrocarbons Pvt Ltd was already undergoing CIRP, the

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## Parties

- **Judges:** R. VARADH…; Anil Ku…
- **Appellants:** BD Edible Oil Pvt…
- **Respondents:** Oren Hydrocarbons…

## Timeline

- **2021-02-24 — Order for…**: An order was passed in IBA/938/2019 initiating Corporate Insolvency Resolution Process…
- **2021-03-03 — Tribunal H…**: The National Company Law Tribunal (NCLT) heard the case IBA/444/2020 filed by BD Edible…

## 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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