# In the matter of Rana Global Ltd.

> NCLT judgment dated 2018-04-26. Citation: TCN-2018-NCLT-01494. The matter was listed for the report of the RP. The petition filed by PNB had been admitted…

- **Court:** NCLT
- **Order date:** 26 Apr 2018
- **Citation:** TCN-2018-NCLT-01494
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rana-global-ltd-f708543a

## Summary

### Background

The matter was listed for the report of the RP. The petition filed by PNB had been admitted vide an order dated March 23, 2018. The IRP has taken no steps till date merely because of a typographical error in his name. The Financial Creditor sought correction after more than a month.

## Facts

The Punjab National Bank (PNB) filed a petition against Rana Global Ltd. which was admitted on March 23, 2018. The Interim Resolution Professional (IRP) has not taken any steps due to a typographical error in his name. The Financial Creditor sought correction after more than a month. The address and registration number of the IRP were correct. The court found the delay and lackadaisical attitude of the Financial Creditor inexplicable.

## Issues and analysis

### Issue 1: Whether the delay by the Financial Creditor in seeking correction of the typographical error in the …

**Ratio:** Financial Creditors are expected to act with diligence and promptness in insolvency

…

**Reasoning:** The court found the delay of more than a month in seeking correction of the typographical

…

**Interpretation:** The court interpreted the delay as a failure to act with the required diligence

…

**Application:** The court applied the principle of diligence to the facts of the case, finding

…

## Parties

- **Judges:** Deepa Kr…; Ina Mal…; +1 more
- **Appellants:** M/s Punjab…
- **Respondents:** Rana Globa…
- **Advocates:** Bindu…

## Timeline

- **2018-03-23 — Petition Ad…**: The petition filed by…
- **2018-04-25 — Matter L…**: The matter was listed…

---

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/rana-global-ltd-f708543a