# In the matter of Raman Casting (P) Ltd. IB-394-ND-2018

> NCLT judgment dated 2019-04-10. Citation: TCN-2019-NCLT-03978. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 10 Apr 2019
- **Citation:** TCN-2019-NCLT-03978
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/raman-casting-p-ltd-ib-394-nd-2018-f4933a3c

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter was initially heard by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench-III, which passed an order on September 17, 2018. This order was then appealed to the National Company Law Appellate Tribunal (NCLAT), which remanded the case back to the Adjudicating Authority via an order dated January 21, 2019. The NCLAT directed the Adjudicating Authority to admit the application under Section 9.

## Facts

Alloysim Industries filed an application under Section 9 of the IBC, 2016, against Raman Casting (P) Ltd. The Adjudicating Authority initially passed an order on September 17, 2018, which was appealed to the NCLAT. The NCLAT remanded the case back to the Adjudicating Authority with a direction to admit the application. The Corporate Debtor, Raman Casting (P) Ltd, was given an opportunity to settle the claim with Alloysim Industries, but failed to do so. Mr. Shominderjeet appeared on behalf of the Corporate Debtor on March 15, 2019, seeking time to engage an advocate. The Operational Creditor's petition was admitted, and a moratorium was declared. Mr. Brijesh Kumar Tamber was appointed as the Interim Resolution Professional (IRP). The applicant is directed to pay two

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC, 2016 should be admitted given the NCLAT's …

**Ratio:** Section 9(5) of the IBC, 2016, provides for the admission of an application if the

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**Reasoning:** The NCLAT had already directed the Adjudicating Authority to admit the application. The

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**Interpretation:** The NCLAT's order is binding on the Adjudicating Authority. The failure of the

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**Application:** Given the NCLAT's directive and the Corporate Debtor's failure to settle, the

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## Parties

- **Judges:** Sh.R. Varad…; DeepaKr…
- **Appellants:** Alloysim Industrie…
- **Respondents:** Raman Casting (P)…; Rarnan Casting…
- **Advocates:** Vasu K…

## Timeline

- **2018-09-17 — Initial…**: Adjudicating Authority (National Company Law Tribunal), New Delhi Bench-III, passed an…
- **2019-01-21 — NCLAT Or…**: NCLAT remands the case back to the Adjudicating Authority with a direction to admit the…

## 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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