# In the matter of  Superdrawn Wire Industries Pvt. Ltd. C.P. (IB) No. 239-9-NCLT-AHM-2019

> NCLT judgment dated 2021-03-30. Citation: TCN-2021-NCLT-02527. The case pertains to C.P. (I.B) No. 239/9/NCLT/AHM/2019 before the National Company Law…

- **Court:** NCLT
- **Order date:** 30 Mar 2021
- **Citation:** TCN-2021-NCLT-02527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/superdrawn-wire-industries-pvt-ltd-cp-ib-no-239-9-nclt-ahm-2019-0c2421e5

## Summary

### Background

The case pertains to C.P. (I.B) No. 239/9/NCLT/AHM/2019 before the National Company Law Tribunal, Ahmedabad Bench. The matter involves Power2SME Pvt Ltd V/s Superdrawn Wire Industries Pvt Ltd. The Corporate Debtor has already been admitted into CIRP in CP (IB) No. 68 of 2020 vide order dated 15.03.2021.

## Facts

The case involves Power2SME Pvt Ltd V/s Superdrawn Wire Industries Pvt Ltd. The Corporate Debtor, Superdrawn Wire Industries Pvt Ltd, has already been admitted into Corporate Insolvency Resolution Process (CIRP) under CP (IB) No. 68 of 2020, with an order dated 2021-03-15. Consequently, the current application, CP (IB) No. 239 of 2019, is rendered infructuous. The court grants liberty to the Financial Creditor to file its claim before the Interim Resolution Professional (IRP) or Resolution Professional (RP) in the ongoing CIRP. The Financial Creditor is also given the liberty to revive the current proceeding if the CIRP of the Corporate Debtor is set aside.

## Issues and analysis

### Issue 1: Whether the application CP (IB) No. 239 of 2019 should be disposed of, given that the Corporate …

**Ratio:** When a corporate debtor is already undergoing CIRP under a separate application, any

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**Reasoning:** The court reasoned that since the Corporate Debtor is already undergoing CIRP, the

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**Interpretation:** The interpretation is that multiple CIRP proceedings against the same corporate

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**Application:** In this case, the Corporate Debtor, Superdrawn Wire Industries Pvt Ltd, was

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** Power2SME Pvt.…
- **Respondents:** Superdrawn Wire…

## Timeline

- **2021-03-15 — Order Date of CP (IB)…**: Corporate Debtor admitted into…
- **2021-03-30 — Order Date of CP (IB)…**: CP (IB) No. 239 of 2019…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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