# In the matter of Unitex Apparels Pvt. Ltd. I.A. No. 76-2020 in C.P. (IB) No. 214-BB-2020

> NCLT judgment dated 2020-02-26. Citation: TCN-2020-NCLT-01806. The case pertains to I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 in…

- **Court:** NCLT
- **Order date:** 26 Feb 2020
- **Citation:** TCN-2020-NCLT-01806
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unitex-apparels-pvt-ltd-ia-no-76-2020-in-cp-ib-no-214-bb-2020-7b13cf25

## Summary

### Background

The case pertains to I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 in C.P.(IB)No.214/BB/2019 filed under Section 60(5)(c) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016. These applications seek to condone a delay of 69 days in filing the Proof of Claim by the Applicant/Financial Creditor with the Respondent/Resolution Professional and to direct the Resolution Professional to accept and consider the claim. The main Company Petition was filed by M/s. Madura Coats Private Limited under Section 9 of the IBC, 2016, and was admitted on 2019-10-29, initiating CIRP and appointing Mr. Ratnakar Shetty as IRP. A public announcement was made on 2019-11-07, with a deadline of 2019-11-21 for creditors to file their claims.

## Facts

M/s. Madura Coats Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the petition on 2019-10-29 and appointed Mr. Ratnakar Shetty as the Interim Resolution Professional (IRP). The IRP made a public announcement on 2019-11-07, setting 2019-11-21 as the last date for submission of claims. Several financial creditors, including M/s. Triburg Sportswear, Mrs. Anuradha Bakshi and M/s. Triburg Consultants Private Limited, filed applications (I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 respectively) seeking condonation of a 69-day delay in filing their claims. The applicants claimed they were unaware of the public

…

## Issues and analysis

### Issue 1: Whether the delay of 69 days in filing the proof of claim by the Applicant/Financial Creditor …

**Ratio:** Section 60(5)(c) of the IBC, 2016 read with Rule 11 of the NCLT Rules, 2016 provides the

…

**Reasoning:** The court was convinced by the Applicant's explanation that they were unaware of the

…

**Interpretation:** The court interpreted the provisions of the IBC and NCLT Rules to allow for

…

**Application:** The court applied the ratio to the specific facts, finding that the Applicant's

…

## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s. Triburg…
- **Respondents:** Ratnakar…

## Timeline

- **2019-10-29 — Admission of Company…**: The Adjudicating Authority admitted the main Company Petition filed by M/s. Madura Coats…
- **2019-10-29 — Appointment…**: Mr. Ratnakar Shetty was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/unitex-apparels-pvt-ltd-ia-no-76-2020-in-cp-ib-no-214-bb-2020-7b13cf25