# In the matter of Samtel Color & Ors. CP No. (IB)-145 (PB)-2017

> NCLT judgment dated 2017-09-07. Citation: TCN-2017-NCLT-00449. M/s R.P. Goel, Proprietor of Parivahan Road Carriers, filed an application under Section 9 of…

- **Court:** NCLT
- **Order date:** 7 Sept 2017
- **Citation:** TCN-2017-NCLT-00449
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/samtel-color-ors-cp-no-ib-145-pb-2017-bbdc23e3

## Summary

### Background

M/s R.P. Goel, Proprietor of Parivahan Road Carriers, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against M/s. Samtel Color Ltd. The total amount of default claimed was Rs. 66,16,402/- including interest as on 23.03.2017. It was noted that a Corporate Insolvency Resolution Process had already been initiated against the same corporate debtor, M/s Samtel Color Ltd., in the case of Punjab National Bank, C.P. No. (IB)-132(PB)/2017, which was decided on 07.09.2017. Mr. Sanjay Gupta was appointed as Interim Resolution Professional.

## Facts

M/s R.P. Goel, Proprietor of Parivahan Road Carriers, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against M/s. Samtel Color Ltd. The claimed default amount was Rs. 66,16,402/- including interest as of March 23, 2017. M/s Samtel Color Ltd. was identified as the 'Operational / Corporate Debtor'. A Corporate Insolvency Resolution Process had already been initiated against M/s Samtel Color Ltd. in the case of Punjab National Bank, C.P. No. (IB)-132(PB)/2017, decided on September 7, 2017. Sanjay Gupta was appointed as the Interim Resolution Professional.

## Issues and analysis

### Issue 1: Whether the application filed by M/s R.P. Goel, Proprietor of Parivahan Road Carriers, under …

**Ratio:** When a Corporate Insolvency Resolution Process has already been initiated against a

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**Reasoning:** The Tribunal reasoned that since a Corporate Insolvency Resolution Process was already

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**Interpretation:** This legal issue concerns the procedural aspects of the Insolvency and

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where a

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## Parties

- **Judges:** M. M. K…; DeepaKr…
- **Appellants:** M/s. R.P. Goel,…
- **Respondents:** M/s. Samtel…; M/s. Samtel Color…

## Timeline

- **2017-03-23 — Default…**: The total amount of default is stated to be Rs. 66,16,402/- including interest as on this…
- **2017-09-07 — Decision on Punjab…**: Corporate Insolvency Resolution Process has already been initiated in the case of Punjab…

## 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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