# In the matter of SBQ Steels Ltd. MA 635-2018 & 420-2019 In CP-665-IB-2017

> NCLT judgment dated 2019-05-02. Citation: TCN-2019-NCLT-03560. The document pertains to MA/420/2019 in MA/635/2018 in CP/665/IB/2017 before the National…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03560
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sbq-steels-ltd-ma-635-2018-420-2019-in-cp-665-ib-2017-95545a2f

## Summary

### Background

The document pertains to MA/420/2019 in MA/635/2018 in CP/665/IB/2017 before the National Company Law Tribunal (NCLT), Chennai Bench. It involves objections being considered in the claims of the Applicants. The case involves ZAM Engg. and Logistics (P) Ltd as the petitioner and Ashish Arjunkumar Rathi (RP) (SBQ Steels Ltd) as the respondent.

## Facts

The case is registered as MA/420/2019 in MA/635/2018 in CP/665/IB/2017. The petitioner is ZAM Engg. and Logistics (P) Ltd. The respondent is Ashish Arjunkumar Rathi (RP) (SBQ Steels Ltd). The case is under Section 42 of the Insolvency and Bankruptcy Code (IBC). The court considered objections to claims made by the applicants and directed the liquidator to consider those claims in accordance with the law. Deepa Mariappan and Asst. Adv. Po. Dhanaraj appeared as counsel for the Appellant. Y.P.T.V. Suryarao appeared on behalf of the Liquidator of SBQ Steels Ltd.

## Issues and analysis

### Issue 1: Whether the objections raised by the applicants …

**Ratio:** The principle of fair consideration of claims and objections within the insolvency

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**Reasoning:** The court acknowledged the objections raised by the applicants and deemed it necessary

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**Interpretation:** This involves interpreting the procedural requirements for handling claims and

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**Application:** The court applied this principle by directing the liquidator to consider the

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** ZAM ENGG. AND…
- **Respondents:** SBQ STEEL…; ASHISH ARJUNKUMAR…

## Timeline

- **2019-05-02 — Hearing…**: Hearing held at 10.30 AM at Chennai Bench,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

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