# In the matter of Sejal Glass Limited IA No. 1033 of 2020 in

> NCLT judgment dated 2020-09-28. Citation: TCN-2020-NCLT-00509. This is an application by some employees of Sejal Glass Limited, the Corporate Debtor, seeking…

- **Court:** NCLT
- **Order date:** 28 Sept 2020
- **Citation:** TCN-2020-NCLT-00509
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sejal-glass-limited-ia-no-1033-of-2020-in-0d883dec

## Summary

### Background

This is an application by some employees of Sejal Glass Limited, the Corporate Debtor, seeking intervention in the application for approval of the Resolution Plan (MA No. 3690 of 2019) and direction to the Resolution Professional to serve a copy of the Resolution Plan on them, so that they could put in their views thereon. The applicants were Assistant Manager Marketing, Business Head, and Vice President Corporate HR and Administration of the Corporate Debtor. An application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was brought against the Corporate Debtor seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Tribunal admitted the petition on 13.02.2019 and appointed Mr. Rajendra Kumar Girdhar as Interim Resolution Professional

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## Facts

Mr. Anil N. Surwade, Mr. Anil Dhingra, and Mr. Subhash Mali, employees of Sejal Glass Limited, filed an application seeking intervention in the Corporate Insolvency Resolution Process (CIRP) of Sejal Glass Limited. They sought to intervene in MA No. 3690 of 2019, which was pending for approval of the Resolution Plan. They also requested that the Resolution Professional, Mr. Prashant Jain, provide them with a copy of MA No. 3690 of 2019, including the Resolution Plan, so they could provide their views and concerns. The employees claimed that the Managing Director of the Corporate Debtor was diverting funds through Inter Corporate Deposits (ICDs) and that the Resolution Professional had not considered their concerns. The Corporate Insolvency Resolution Process (CIRP) was

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## Issues and analysis

### Issue 1: Whether the Applicants, being employees of the Corporate Debtor, are entitled to intervene in the …

**Ratio:** Employees of the Corporate Debtor, who are not members of the Board of Directors, have

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**Reasoning:** The NCLT relied on the judgment of the Hon'ble Apex Court in Vijay Kumar Jain (supra),

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**Interpretation:** The court interpreted the provisions of the Insolvency and Bankruptcy Code and

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**Application:** The NCLT applied the ratio to the facts of the case, noting that the applicants

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## Parties

- **Judges:** Janab Mohammed…; Ravikumar…; +1 more
- **Appellants:** Anil N. S…
- **Respondents:** Sejal Glass…; Prashant…

## Timeline

- **2019-02-13 — Admission of…**: The Tribunal admitted the petition under Section 7 of the Insolvency and Bankruptcy Code,…
- **2019-02-01 — Public Annou…**: The Interim Resolution Professional (IRP) issued a public announcement under section 13…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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