# In the matter of Unique Sugars Ltd. CP(IB)-4531-(MB)-2018

> NCLT judgment dated 2019-04-08. Citation: TCN-2019-NCLT-04054. The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The…

- **Court:** NCLT
- **Order date:** 8 Apr 2019
- **Citation:** TCN-2019-NCLT-04054
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unique-sugars-ltd-cpib-4531-mb-2018-5db6f847

## Summary

### Background

The case pertains to an application filed under the Insolvency and Bankruptcy Code (IBC). The order sheet reflects the hearing of the Mumbai Bench of the National Company Law Tribunal (NCLT) on April 8, 2019. The matter involves Jay Enterprises versus Unique Sugars Ltd.

## Facts

Jay Enterprises filed a petition against Unique Sugars Ltd. The National Company Law Tribunal (NCLT), Mumbai Bench, heard the case on April 8, 2019. It was found that another case, C.P.No.128/2018, against Unique Sugars Limited had already been admitted under Section 9 of the Insolvency and Bankruptcy Code (I&B Code). In that case, Mr. Javadsha K. Vasa was appointed as the Interim Resolution Professional (IRP) on February 28, 2019. Given the existing proceedings and the appointment of an IRP, the current petition filed by Jay Enterprises was deemed redundant.

## Issues and analysis

### Issue 1: Whether the petition filed by Jay Enterprises is redundant given the existence of prior insolvency …

**Ratio:** When insolvency proceedings have already been initiated against a corporate debtor and an

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**Reasoning:** The court reasoned that since C.P.No.128/2018 against Unique Sugars Limited had already

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**Interpretation:** The interpretation is that the IBC aims to consolidate insolvency proceedings

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**Application:** The ratio and reasoning were applied to the fact that a prior case existed

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Jay Enter…
- **Respondents:** Unique Sugars…; Unique Suga…

## Timeline

- **2019-04-08 — Hearing…**: Hearing of the Mumbai Bench of the National Company Law Tribunal (NCLT) regarding the…
- **2019-02-28 — IRP Appoi…**: Mr. Javadsha K. Vasa appointed as Interim Resolution Professional (IRP) in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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