# In the matter of Turbo Metals Pvt. Ltd. MA 1482-2019 in C.P. (IB)1566(MB)-2018

> NCLT judgment dated 2019-05-03. Citation: TCN-2019-NCLT-03498. The case pertains to an application regarding the payment of Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 3 May 2019
- **Citation:** TCN-2019-NCLT-03498
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/turbo-metals-pvt-ltd-ma-1482-2019-in-cp-ib1566mb-2018-aa798243

## Summary

### Background

The case pertains to an application regarding the payment of Corporate Insolvency Resolution Process (CIRP) costs. The application is related to whether the Corporate Debtor or the Committee of Creditors (COC) should bear the CIRP costs, as ratified by the COC.

## Facts

The application concerns the payment of CIRP costs. The applicant's counsel is present, while the respondents (Nos. 1 to 3) are absent. The application seeks a determination on whether the Corporate Debtor or the COC should pay the CIRP costs, as ratified by the COC. The court has directed the respondents to file their reply before the next hearing date, failing which the matter will be decided on merits. The next hearing is scheduled for 2019-05-27.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor or the Committee of Creditors (COC) is responsible for the payment of …

**Ratio:** The legal principle involves determining the appropriate party responsible for bearing

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**Reasoning:** The court is seeking to determine the appropriate party to bear the CIRP costs. The

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**Interpretation:** The interpretation involves understanding the provisions of the IBC related to

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**Application:** The ratio and reasoning will be applied to the specific facts of the case,

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## Parties

- **Judges:** Bhaskara Pantula…; V. Nallasen…
- **Respondents:** Turbo Metals Pvt.…; Respondent…

## Timeline

- **2019-05-03 — Order Shee…**: Order sheet of the hearing of Mumbai Bench…
- **2019-05-27 — Next Hearin…**: The matter is listed for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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