# In the matter of Steelco Gujarat Ltd. C.P. (IB) No. 240-NCLT-AHM-2020

> NCLT judgment dated 2021-01-20. Citation: TCN-2021-NCLT-03258. The case pertains to C.P.(I.B) No.240/NCLT/AHM/2020 before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 20 Jan 2021
- **Citation:** TCN-2021-NCLT-03258
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/steelco-gujarat-ltd-cp-ib-no-240-nclt-ahm-2020-a7d370ae

## Summary

### Background

The case pertains to C.P.(I.B) No.240/NCLT/AHM/2020 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The matter involves Timken India Ltd V/s Steelco Gujarat Ltd. An IB Petition i.e. C.P. (I.B) 342/2020 filed under Section 7 has already been admitted on 31.12.2020 against the same Corporate Debtor.

## Facts

The case involves Timken India Ltd V/s Steelco Gujarat Ltd. An IB Petition i.e. C.P. (I.B) 342/2020 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, has already been admitted on 31.12.2020 against the same Corporate Debtor. Advocate, Ms. Rhea appeared on behalf of advocate, Mr. Arjun Sheth for the Respondent. Advocate, Mr. Bhargav appeared on behalf of Petitioner. The advocates representing both sides acknowledged the prior admission of the other IB Petition. The instant application, C.P. (I.B) 240/2020, was subsequently dismissed as infructuous.

## Issues and analysis

### Issue 1: Whether the instant application, C.P. (I.B) 240/2020, should be dismissed as infructuous due to the …

**Ratio:** When a prior application under Section 7 of the Insolvency and Bankruptcy Code, 2016, has

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**Reasoning:** The court reasoned that since C.P. (I.B) 342/2020, filed under Section 7, had already

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**Interpretation:** This interpretation emphasizes the principle that once insolvency proceedings

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**Application:** Given the fact that C.P. (I.B) 342/2020 was already admitted, the court applied

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Respondents:** Steelco Gujarat…

## Timeline

- **2021-01-20 — Hearing…**: Attendance-cum-order sheet of the hearing of Ahmedabad Bench of the National Company Law…
- **2020-12-31 — Admission of IB…**: C.P. (I.B) 342/2020 filed under Section 7 was…

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