# In the matter of Surya Pharmaceuticals Ltd. (IB)-904(PB)-2018

> NCLT judgment dated 2019-05-17. Citation: TCN-2019-NCLT-03274. The case pertains to an application CA-934(PB)/2019 in the matter of State Bank of India Vs.…

- **Court:** NCLT
- **Order date:** 17 May 2019
- **Citation:** TCN-2019-NCLT-03274
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/surya-pharmaceuticals-ltd-ib-904pb-2018-66989307

## Summary

### Background

The case pertains to an application CA-934(PB)/2019 in the matter of State Bank of India Vs. Surya Pharmaceuticals Ltd. The Resolution Professional (RP) had rejected a claim due to delay, as it was filed beyond 90 days. The applicant/petitioner is State Bank of India and the respondent is Surya Pharmaceuticals Ltd.

## Facts

State Bank of India filed an application against Surya Pharmaceuticals Ltd. The Resolution Professional (RP) rejected a claim filed by the applicant because it was filed beyond the 90-day period. The RP's rejection was based on the delay in filing the claim. The court noted that it had previously clarified that the provisions regarding the stipulated period for filing claims are not mandatory. A reference was made to a previous order in CA No. 727(PB)/2019 (CP No. (IB)-737(PB)/2018) concerning Twenty first Century Wire Rods Ltd., decided on 01.05.2019. The court directed the RP to consider the claim on its merits, setting aside the rejection based on delay.

## Issues and analysis

### Issue 1: Whether the Resolution Professional (RP) was justified in rejecting the claim solely on the ground …

**Ratio:** The ratio is that rejection of a claim solely on the ground of delay is not justified if

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**Reasoning:** The court reasoned that it had previously clarified in various judgments that the

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**Interpretation:** The interpretation is that the court is emphasizing that the merits of the

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**Application:** The court applied this ratio to the specific facts by directing the RP to

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** State Bank of…
- **Respondents:** Surya Pharmaceutic…

## Timeline

- **2019-05-01 — Reference…**: Order passed in CA No. 727(PB)/2019 (CP No. (IB)-737(PB)/2018) namely Twenty first…
- **2019-05-17 — Order Del…**: Order delivered on the application, directing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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