# 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-03540. The case pertains to MA/431/2019 in MA/635/2018 in CP/665/IB/2017 before the National Company…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03540
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sbq-steels-ltd-ma-635-2018-431-2019-in-cp-665-ib-2017-1c435da3

## Summary

### Background

The case pertains to MA/431/2019 in MA/635/2018 in CP/665/IB/2017 before the National Company Law Tribunal (NCLT), Chennai Division Bench. The matter involves objections to claims of applicants, which were considered by the NCLT.

## Facts

The National Company Law Tribunal, Chennai Bench, held a hearing on May 2, 2019, regarding MA/431/2019 in MA/635/2018 in CP/665/IB/2017. East Coast Logistics Pvt Ltd is the petitioner, and Ashish Arjunkumar Rathi (RP) (SBQ Steels Ltd) is the respondent. The case is under Section 42 of the Insolvency and Bankruptcy Code (IBC). The NCLT considered objections to the claims of the applicants and directed the Liquidator to consider the claims in accordance with the law. Deepa Mariappan and Asst. Adv. B. Dhanora represented the appellant, while Y.P.T.V. Suryarao represented the Liquidator of SBQ Steels Ltd.

## Issues and analysis

### Issue 1: Whether the objections raised against the …

**Ratio:** The legal principle is that objections to claims must be duly considered in insolvency

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**Reasoning:** The court reasoned that the objections needed to be addressed to ensure that the claims

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**Interpretation:** This involves interpreting the provisions of the IBC and related regulations

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**Application:** The court applied this principle by considering the objections raised against

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Deepa Mar…
- **Respondents:** SBQ STEEL…; ASHISH ARJUNKUMAR…
- **Advocates:** Deepa Mar…; B. Dhan…; +1 more

## Timeline

- **2019-05-02 — Hearing…**: National Company Law Tribunal, Chennai…

## 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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