# In the matter of Raman Ispat Pvt. Ltd. CA No. 88-ALD-2018 in CP No. (IB)-23-ALD-2017

> NCLT judgment dated 2018-08-21. Citation: TCN-2018-NCLT-00923. The case involves a company application filed by the liquidator of Raman Ispat Private Limited,…

- **Court:** NCLT
- **Order date:** 21 Aug 2018
- **Citation:** TCN-2018-NCLT-00923
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/raman-ispat-pvt-ltd-ca-no-88-ald-2018-in-cp-no-ib-23-ald-2017-8e8418ec

## Summary

### Background

The case involves a company application filed by the liquidator of Raman Ispat Private Limited, which is undergoing liquidation. The liquidator seeks the release of attached properties of the corporate debtor and directions to Paschimanchal Vidyut Vitran Nigam Limited (PVVNL) to submit their claims for outstanding electricity dues. The properties were attached by the District Collector and Tehsildar of Muzaffarnagar due to unpaid electricity bills. The liquidator argues that these attachments hinder the liquidation process under the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

Raman Ispat Private Limited, a company incorporated under the Companies Act, 1956, is undergoing liquidation. Praveen Bansal is the appointed liquidator. The company had an agreement with Paschimanchal Vidyut Vitran Nigam Limited (PVVNL) for the supply of electrical energy, with a clause stating that outstanding dues would be a charge on the company's assets. The company defaulted on payments, leading to outstanding dues of Rs. 4,32,33,883 as of January 27, 2017. The District Collector and Tehsildar of Muzaffarnagar attached the company's properties for recovery of these dues. The liquidator filed an application seeking the release of the attached properties to facilitate the liquidation process under the Insolvency and Bankruptcy Code (IBC), 2016. Union Bank of India

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## Issues and analysis

### Issue 1: Whether the attachment orders issued by the District Collector and Tehsildar of Muzaffarnagar …

**Ratio:** Section 238 of the Insolvency and Bankruptcy Code, 2016, provides that the provisions of

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**Reasoning:** The court reasoned that the IBC has an overriding effect over other laws, including those

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**Interpretation:** The interpretation of Section 238 of the IBC establishes its supremacy over

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**Application:** The court applied this ratio to the facts of the case, holding that the

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## Parties

- **Judges:** SH. V.P.…; Saroj Ra…
- **Respondents:** RAMAN ISPAT…; Executive E…

## Timeline

- **1956-01-01 — Companies Ac…**: Raman Ispat Private Limited is…
- **2010-02-11 — Agreement for…**: Raman Ispat Private Limited entered into an agreement with Paschimanchal Vidyut Vitran…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 35(1) — Powers and duties of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-35)

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