# In the matter of Sri Srivathsa Paper Mills Pvt. Ltd. MA-484-2019 in CP-762-IB-2018

> NCLT judgment dated 2019-06-11. Citation: TCN-2019-NCLT-02978. The case involves an application (MA/484/2019) in connection with a corporate insolvency…

- **Court:** NCLT
- **Order date:** 11 Jun 2019
- **Citation:** TCN-2019-NCLT-02978
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sri-srivathsa-paper-mills-pvt-ltd-ma-484-2019-in-cp-762-ib-2018-aa6c901a

## Summary

### Background

The case involves an application (MA/484/2019) in connection with a corporate insolvency resolution process (CP/762/IB/2018). The Resolution Professional (RP) is present with counsel, and it is stated that notice has been sent to stakeholders. Arjun Chemicals Ltd. has filed an objection. Representatives from the Assistant Commissioner of Commercial Taxes (ST) II and the Employees State Insurance Corporation are present, as is counsel for the Income Tax Department, who requested time to file objections. The RP is directed to send relevant papers to counsel for the Income Tax Department. Certain stakeholders were served notices but were absent and were proceeded against ex parte.

## Facts

The Resolution Professional (RP) for the corporate debtor, Arumugam Arumugam RP, is present with counsel. Notice was sent to stakeholders as per the list in the application. Arjun Chemicals Ltd. filed an objection. Representatives from the Assistant Commissioner of Commercial Taxes (ST) II and the Employees State Insurance Corporation are present. Counsel for the Income Tax Department is present and requested time to file objections. The court directed the Income Tax Department to file objections by the next hearing date. The Resolution Professional was instructed to provide relevant documents to the Income Tax Department's counsel. Stakeholders A. Subramaniam, K. Nataraj, TANGEDCO, Thalayuthu Panchayat, and the Pollution Control Board were served notices but were

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## Issues and analysis

### Issue 1: Whether sufficient notice was provided to all …

**Ratio:** The principle of natural justice requires that all parties affected by a decision must be

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**Reasoning:** The court noted that notice had been sent to the stakeholders as per the list contained

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**Interpretation:** The interpretation of 'sufficient notice' depends on the specific circumstances

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**Application:** In this case, the court seemed to believe that the notice was sufficient

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## Parties

- **Judges:** Ch. Mohd Sharief…
- **Respondents:** ARUMUGAM ARUMUGAM…; Committee of…

## Timeline

- **2018-01-01 — CP/762/IB/201…**: Corporate Insolvency…
- **2019-06-11 — Hearing…**: Hearing held at 10:30 AM. Resolution Professional present. Arjun Chemicals Ltd. filed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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