# In the matter of Uttam Strips Ltd. (IB) 137 (ND)-2018

> NCLT judgment dated 2019-04-04. Citation: TCN-2019-NCLT-04150. The case involves CA 226/2018 filed by an Operational Creditor seeking reimbursement of initial…

- **Court:** NCLT
- **Order date:** 4 Apr 2019
- **Citation:** TCN-2019-NCLT-04150
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/uttam-strips-ltd-ib-137-nd-2018-74d58315

## Summary

### Background

The case involves CA 226/2018 filed by an Operational Creditor seeking reimbursement of initial expenses. The Resolution Plan has been submitted to the Bench for consideration. Claimants argue their claims were rejected by the RP for being filed late. Counsel for the RP argues that Regulation 12 of the CIR process prevents considering claims after the resolution plan's approval by the COC.

## Facts

An Operational Creditor filed CA 226/2018 seeking reimbursement of initial expenses. The Resolution Plan was submitted for consideration. Claimants argue their claims were rejected by the RP for being filed belatedly. The RP's counsel argues that Regulation 12 of the CIR process prevents considering claims after the resolution plan's approval by the COC. The court directed reimbursement of the operational creditor's expenses and directed the RP to include acceptable claims filed before 270 days of the CIR period or before the Resolution Plan was approved. CA 54/2019 is also pending adjudication.

## Issues and analysis

### Issue 1: Whether the Operational Creditor is entitled to …

**Ratio:** The operational creditor is entitled to

…

**Reasoning:** The court directed that the said amount was to be reimbursed to the operational creditor

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**Interpretation:** The court interprets the IBC to allow for the reimbursement of initial expenses

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**Application:** The court applied this principle to the specific facts of the case, directing

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Respondents:** M/s. Power2sme…; Krishnendu…

## Timeline

- **2018-01-01 — Filing of CA…**: CA 226/2018 was filed by the Operational Creditor seeking reimbursement of initial…
- **2019-04-04 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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