# In the matter of R. V. Steels Pvt. Ltd. MA-341-2019 In CP-571-IB-2017

> NCLT judgment dated 2019-04-09. Citation: TCN-2019-NCLT-04026. The case involves a hearing at the Chennai Bench of the National Company Law Tribunal (NCLT).…

- **Court:** NCLT
- **Order date:** 9 Apr 2019
- **Citation:** TCN-2019-NCLT-04026
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/r-v-steels-pvt-ltd-ma-341-2019-in-cp-571-ib-2017-5e9268b6

## Summary

### Background

The case involves a hearing at the Chennai Bench of the National Company Law Tribunal (NCLT). The matter pertains to an application (MA/341/2019) filed in connection with a corporate insolvency resolution process (CIRP) initiated via CP/571IB/2017. The representative of R6 appeared in person, stating authorization by Promoter-Directors (R4 and R5).

## Facts

The case originates from a corporate insolvency resolution process (CIRP) initiated under CP/571IB/2017. Tharuvai Ramachandran Ravichandran is the petitioner, and R.V.Steels Pvt Ltd is the respondent. A representative of R6 appeared, claiming authorization from Promoter-Directors (R4 and R5), and provided an undertaking to grant access to the Corporate Debtor's plant and machinery to the Resolution Professional/Liquidator. The Liquidator agreed to accompany R6. The Bench recorded this undertaking as a direction against R6, compelling access to the assets. The matter was scheduled for reporting compliance on 16.04.2019. The relevant sections of the IBC are 60(5), 34(3), and 35(1).

## Issues and analysis

### Issue 1: Whether the undertaking given by the representative of R6 to provide access to the plant and …

**Ratio:** An undertaking given to a court or tribunal can be recorded as a direction, especially

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**Reasoning:** The Bench considered the undertaking given by the representative of R6 as a commitment to

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**Interpretation:** The interpretation involves the power of the tribunal to enforce undertakings

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**Application:** The undertaking was recorded as a direction against R6, compelling them to

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Tharuvai Ramachand…
- **Respondents:** R.V.STEELS…

## Timeline

- **2017-01-01 — Petition…**: CP/571IB/2017 petition…
- **2019-04-09 — Hearing…**: Hearing held at Chennai…

## 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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