# In the matter of Raman Ispat Private Limited IA No. 215-2018 in CP No.(IB) 23-ALD-2018

> NCLT judgment dated 2019-07-23. Citation: TCN-2019-NCLT-02350. The case pertains to CP No.(IB) 23/ALD/2018, IA No. 215/2018 before the Allahabad Bench of the…

- **Court:** NCLT
- **Order date:** 23 Jul 2019
- **Citation:** TCN-2019-NCLT-02350
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/raman-ispat-private-limited-ia-no-215-2018-in-cp-noib-23-ald-2018-646f8cea

## Summary

### Background

The case pertains to CP No.(IB) 23/ALD/2018, IA No. 215/2018 before the Allahabad Bench of the National Company Law Tribunal. The hearing took place on July 23, 2019, concerning Raman Ispat Private Limited. The learned PCS furnished a copy of the order passed by the Hon'ble NCLAT in company appeal No. 639/2018, dismissing the appeal preferred by the Appellant. The PCS proposed to update the list of claimants, which was opposed by the counsel for the Union Bank of India.

## Facts

The case involves CP No.(IB) 23/ALD/2018 and IA No. 215/2018 concerning Raman Ispat Private Limited. The hearing was held on July 23, 2019. An order passed by the Hon'ble NCLAT in company appeal No. 639/2018, dismissing an appeal preferred by the Appellant, was furnished and taken on record. The PCS proposed updating the list of claimants, which was opposed by the counsel for the Union Bank of India. The liquidator has filed a progress report. The case is fixed for hearing on July 29, 2019. Key facts include the NCLAT order, the proposed update to the claimant list, and the opposition from the Union Bank.

## Issues and analysis

### Issue 1: Whether the proposal to update the list of claimants should be approved, considering the opposition …

**Ratio:** The court must consider the interests of all stakeholders, including the Union Bank of

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**Reasoning:** The Union Bank's opposition suggests a potential conflict or dispute regarding the

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**Interpretation:** The legal issue involves balancing the interests of the corporate debtor, the

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**Application:** The court will need to review the reasons for the Union Bank's opposition and

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## Parties

- **Judges:** Saroj Ra…; Harihar Prakash…
- **Respondents:** RAMAN ISPAT…

## Timeline

- **2018-01-01 — CP No.(IB) 23/ALD/2018,…**: Filing of Corporate Insolvency…
- **2018-01-01 — NCLAT Order in Company…**: Hon'ble NCLAT passed an order in company appeal No. 639/2018, dismissing the appeal…

## 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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