# In the matter of Shreenidhi Woodtech Pvt. Ltd. IA 390-2018 in IA 335-2018 in CP (IB) No. 154-NCLT-AHM-2017

> NCLT judgment dated 2018-10-29. Citation: TCN-2018-NCLT-00453. The case involves an application (IA 390/2018) filed by the Resolution Professional seeking…

- **Court:** NCLT
- **Order date:** 29 Oct 2018
- **Citation:** TCN-2018-NCLT-00453
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shreenidhi-woodtech-pvt-ltd-ia-390-2018-in-ia-335-2018-in-cp-ib-no-154-nclt-ahm-06f686fe

## Summary

### Background

The case involves an application (IA 390/2018) filed by the Resolution Professional seeking permission to amend the application in the interest of justice, specifically concerning paragraphs 2.12 and 2.13. IA 235/2018 was filed under section 33(1)(a) of the Insolvency and Bankruptcy Code, seeking liquidation. The applicant wants to delete certain prayers in IA 235/2018 and add a new prayer related to treating a specific amount as a liquidation asset.

## Facts

The Resolution Professional (RP), Mr. Arvind Gaudana, filed IA 390/2018 seeking permission to amend the application. The amendment involves deleting prayer clauses 17(b) and 17(d) from IA 235/2018 and adding a new prayer, 17(b), to treat Rs. 30,50,000 received from 22.12.2017 as a liquidation asset under section 36 of the Insolvency and Bankruptcy Code. This amount was confirmed by the bank via email on 10.10.2018. The RP also seeks permission to transfer the amount to a bank account opened by the liquidator for meeting process expenses as per regulation 41 of the IBBI (Liquidation Process Regulation, 2016). IA 235/2018 was filed under section 33(1)(a) of the IBC, seeking liquidation.

## Issues and analysis

### Issue 1: Whether the applicant should be permitted to delete …

**Ratio:** The court has the discretion to allow amendments to applications if it serves the

…

**Reasoning:** The court found merit in the applicant's request to delete the specified prayer clauses,

…

**Interpretation:** The interpretation of the IBC allows for amendments to applications to ensure a

…

**Application:** The court applied this principle to the specific facts of the case, finding

…

## Parties

- **Judges:** Manorama…
- **Appellants:** Arvind Ga…

## Timeline

- **2017-12-22 — Commencement…**: Date from which Rs. 30,50,000/- was…
- **2018-10-10 — Bank Confir…**: Bank confirmed the amount of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 36 — Liquidation estate](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-36)

---

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/shreenidhi-woodtech-pvt-ltd-ia-390-2018-in-ia-335-2018-in-cp-ib-no-154-nclt-ahm-06f686fe