# In the matter of Samtel Color & Ors.(IB)-132(PB)-2017

> NCLT judgment dated 2020-01-16. Citation: TCN-2020-NCLT-02310. The case involves an application filed by the liquidator under Section 60(5) of the Code…

- **Court:** NCLT
- **Order date:** 16 Jan 2020
- **Citation:** TCN-2020-NCLT-02310
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/samtel-color-orsib-132pb-2017-b728501e

## Summary

### Background

The case involves an application filed by the liquidator under Section 60(5) of the Code against a third party concerning transfer charges payable to Himachal Pradesh Housing & Development Authority. The transaction in question relates to an amalgamation that occurred in 1997.

## Facts

The liquidator filed an application under Section 60(5) of the Code against a third party regarding transfer charges payable to Himachal Pradesh Housing & Development Authority. The transaction relates to an amalgamation that occurred in 1997. The application sought relief against a third party who was neither a creditor nor a debtor of the corporate debtor. The court considered the timing of the transaction (more than ten years prior) and the nature of the third party's relationship to the corporate debtor.

## Issues and analysis

### Issue 1: Whether the National Company Law Tribunal has jurisdiction under the Insolvency and Bankruptcy Code …

**Ratio:** The National Company Law Tribunal's jurisdiction under the IBC is limited to matters

…

**Reasoning:** The court reasoned that it lacked jurisdiction under the IBC to cover transactions that

…

**Interpretation:** The IBC's provisions are interpreted to have a temporal limitation on the

…

**Application:** The court applied this principle to the specific facts, noting that the

…

## Parties

- **Judges:** B.S.V. Prakash…; SH. S.K MOH…
- **Appellants:** Punjab National…
- **Respondents:** Samtel Colo…

## Timeline

- **1997-01-01 — Amalgama…**: The transaction in respect to…
- **2020-01-16 — Order Del…**: Order delivered on 16.01.2020…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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/samtel-color-orsib-132pb-2017-b728501e