# In the matter of Primuss & Pipes Tubes Ltd. CP No. (IB) 502-ALD-2019

> NCLT judgment dated 2021-08-05. Citation: TCN-2021-NCLT-01457. The case pertains to CP No.(IB) 502/ALD/2019 before the National Company Law Tribunal,…

- **Court:** NCLT
- **Order date:** 5 Aug 2021
- **Citation:** TCN-2021-NCLT-01457
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/primuss-pipes-tubes-ltd-cp-no-ib-502-ald-2019-329f2de4

## Summary

### Background

The case pertains to CP No.(IB) 502/ALD/2019 before the National Company Law Tribunal, Allahabad Bench. The matter was heard through video conferencing. The petition was filed by Kotak Mahindra Bank Ltd against Primuss Pipes & Tubes Ltd. The present petition has become infructuous because another petition CP No.(IB) 353/ALD/2019 in the matter of M/S Ashish Ispat Private Limited V. Primuss Pipes and Tubes Limited has already been admitted against the same corporate debtor vide order dated 04.08.2021.

## Facts

Kotak Mahindra Bank Ltd filed a petition against Primuss Pipes & Tubes Ltd under CP No.(IB) 502/ALD/2019. The hearing took place via video conferencing. Another petition, CP No.(IB) 353/ALD/2019, filed by M/S Ashish Ispat Private Limited against Primuss Pipes and Tubes Limited, was already admitted on 04.08.2021. Because of the prior admission of the other petition against the same corporate debtor, the current petition filed by Kotak Mahindra Bank Ltd was deemed infructuous. The court allowed Kotak Mahindra Bank Ltd to raise their claim before the IRP/RP during the CIRP process.

## Issues and analysis

### Issue 1: Whether the present petition should be dismissed as infructuous due to the prior admission of …

**Ratio:** When a petition against a corporate debtor has already been admitted, subsequent

…

**Reasoning:** The court reasoned that since CP No.(IB) 353/ALD/2019 filed by M/S Ashish Ispat Private

…

**Interpretation:** The interpretation is that the admission of one petition under the IBC triggers

…

**Application:** The ratio and reasoning were applied to the facts of the case, leading the

…

## Parties

- **Judges:** Rajesh Daya…
- **Appellants:** Kotak Mahindra…
- **Respondents:** Primuss Pipes &…

## Timeline

- **2021-08-04 — Admission of Prior…**: CP No.(IB) 353/ALD/2019 filed by M/S Ashish Ispat Private Limited against Primuss Pipes…
- **2021-08-05 — Hearing…**: Hearing of CP No.(IB) 502/ALD/2019 filed by Kotak Mahindra Bank Ltd against Primuss Pipes…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/primuss-pipes-tubes-ltd-cp-no-ib-502-ald-2019-329f2de4