# In the matter of SBQ Steels Ltd. MA 635-2018 & 431-2019 In CP-665-IB-2017

> NCLT judgment dated 2019-05-02. Citation: TCN-2019-NCLT-03533. The document pertains to a hearing at the National Company Law Tribunal (NCLT), Chennai Bench,…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03533
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sbq-steels-ltd-ma-635-2018-431-2019-in-cp-665-ib-2017-1ac10325

## Summary

### Background

The document pertains to a hearing at the National Company Law Tribunal (NCLT), Chennai Bench, regarding MA/431/2019 in MA/635/2018 in CP/665/IB/2017. The hearing was held on May 2, 2019. The matter involves East Coast Logistics Pvt Ltd as the petitioner and Ashish Arjunkumar Rathi (RP) of SBQ Steels Ltd as the respondent. The case is under Section 42 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The case involves MA/431/2019 in MA/635/2018 in CP/665/IB/2017 before the NCLT Chennai. East Coast Logistics Pvt Ltd is the petitioner, and Ashish Arjunkumar Rathi (RP) of SBQ Steels Ltd is the respondent. The matter is related to Section 42 of the IBC. The NCLT directed the Liquidator to consider the claims of the applicants in accordance with the law. The attendance cum order sheet indicates the presence of representatives for both the appellant and the liquidator of SBQ Steels Ltd.

## Issues and analysis

### Issue 1: Whether the Liquidator should consider the claims …

**Ratio:** The ratio is that claims in an insolvency proceeding must be considered by the Liquidator

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**Reasoning:** The NCLT directed the Liquidator to consider the claims, indicating that the claims

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**Interpretation:** This implies that the Liquidator has a duty to evaluate the claims based on the

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**Application:** The Liquidator of SBQ Steels Ltd must now review the claims of the applicants

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Deepa Mar…
- **Respondents:** SBQ STEEL…; ASHISH ARJUNKUMAR…

## Timeline

- **2019-05-02 — Hearing…**: Hearing held at NCLT Chennai regarding…

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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/sbq-steels-ltd-ma-635-2018-431-2019-in-cp-665-ib-2017-1ac10325