# In the matter of Orijean Private Limited I.A> No. 159-2020 in C.P. (IB) No. 235-BB-2018

> NCLT judgment dated 2020-05-26. Citation: TCN-2020-NCLT-01321. The case involves an application (I.A. No. 159 of 2020) filed in C.P. (IB) No. 235/BB/2018 by…

- **Court:** NCLT
- **Order date:** 26 May 2020
- **Citation:** TCN-2020-NCLT-01321
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/orijean-private-limited-ia-no-159-2020-in-cp-ib-no-235-bb-2018-0c1009ba

## Summary

### Background

The case involves an application (I.A. No. 159 of 2020) filed in C.P. (IB) No. 235/BB/2018 by M/s. Orijean Private Limited, seeking condonation of a 159-day delay in submitting the Tribunal's order to the Registrar of Companies (ROC). The original C.P. (IB) No. 235/BB/2018 was filed by Vaishnavi Industries against Orijean Private Limited for default on a payment of Rs. 12,28,762. The adjudicating authority admitted the case, initiated CIRP, and appointed an IRP. Subsequently, an application (I.A. No. 418/2019) was filed for withdrawal of the CIRP after the outstanding dues were settled with the Corporate Debtor. The application for withdrawal was allowed on September 4, 2019. The order for withdrawal needed to be filed with the ROC within 30 days, but it was filed with

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## Facts

M/s. Vaishnavi Industries filed C.P. (IB) No. 235/BB/2018 against M/s. Orijean Private Limited for defaulting on a payment of Rs. 12,28,762. The adjudicating authority admitted the case and initiated CIRP. An IRP was appointed. Subsequently, I.A. No. 418/2019 was filed for withdrawal of the CIRP after the outstanding dues were settled. The application for withdrawal was allowed on September 4, 2019. The order for withdrawal needed to be filed with the ROC within 30 days, but it was filed with a delay of 159 days on February 18, 2020. M/s. Orijean Private Limited then filed I.A. No. 159 of 2020 seeking condonation of the delay. The Registrar of Companies raised an objection to the delay.

## Issues and analysis

### Issue 1: Whether the delay of 159 days in submitting the Tribunal's order to the Registrar of Companies …

**Ratio:** The Tribunal has the power to condone delays if sufficient cause is shown and the delay

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**Reasoning:** The court considered the submissions of the applicant's counsel that the delay was

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**Interpretation:** The interpretation of the relevant rules and sections of the Insolvency and

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**Application:** In this case, the court applied the ratio by considering the applicant's

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Respondents:** Orijean Private…; The Registrar of…

## Timeline

- **2018-01-01 — Filing of C.P. (IB) No.…**: M/s. Vaishnavi Industries filed C.P. (IB) No. 235/BB/2018 against M/s. Orijean Private…
- **2019-08-07 — Admission of C.P. (IB)…**: The adjudicating authority…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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