# In the matter of Tebma Shipyard Ltd.

> NCLT judgment dated 2019-05-03. Citation: TCN-2019-NCLT-03512. The case involves an application MA/243/2019 in CP/738/IB/2018 before the National Company Law…

- **Court:** NCLT
- **Order date:** 3 May 2019
- **Citation:** TCN-2019-NCLT-03512
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tebma-shipyard-ltd-175fa20e

## Summary

### Background

The case involves an application MA/243/2019 in CP/738/IB/2018 before the National Company Law Tribunal (NCLT), Chennai Bench. The Resolution Professional (RP) and Respondent 1 (R1) are present with their respective counsels. Respondent 4 (R4) is removed from the array of respondents as the applicant's counsel stated they are giving up R4.

## Facts

The application MA/243/2019 was filed in CP/738/IB/2018. The Resolution Professional (RP) and Respondent 1 (R1) were present with their counsels. Respondent 4 (R4) was removed from the list of respondents. Mr. Gurushekhar, previously in charge of the Corporate Debtor's accounts, expressed willingness to assist the RP if compensated. The court directed R1 to instruct Mr. Gurushekhar to complete the accounts under the RP's guidance, with payment to be made by the RP, subject to CoC approval. R1 is required to file an affidavit of compliance.

## Issues and analysis

### Issue 1: Whether Mr. Gurushekhar, the former in-charge of accounts of the Corporate Debtor, can be engaged …

**Ratio:** The court has the power to direct parties to take actions that facilitate the resolution

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**Reasoning:** The court reasoned that engaging Mr. Gurushekhar would be beneficial as he possesses

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**Interpretation:** This involves interpreting the powers of the NCLT to ensure the efficient

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**Application:** The court applied this principle by directing R1 to instruct Mr. Gurushekhar to

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## Parties

- **Judges:** CH. MOHD SHARIEF…
- **Appellants:** Balakrishnan…
- **Respondents:** Vijay K…

## Timeline

- **2019-05-03 — Hearing…**: Hearing held at 10:30…
- **2019-05-29 — Next Hearin…**: Case put up for next…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19 — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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