# In the matter of Vadraj Cement Ltd. CP(IB)-3528(MB)-2018

> NCLT judgment dated 2019-04-08. Citation: TCN-2019-NCLT-04064. The case involves a hearing before the Mumbai Bench of the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 8 Apr 2019
- **Citation:** TCN-2019-NCLT-04064
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vadraj-cement-ltd-cpib-3528mb-2018-0c19d54c

## Summary

### Background

The case involves a hearing before the Mumbai Bench of the National Company Law Tribunal (NCLT). The matter pertains to CP(IB)-3528(MB)/2018. The petitioner, Oriental Bank of Commerce, is involved in a dispute with Vadraj Cement Ltd. An order sheet noting dated 07.01.2019 records that the Bombay High Court, via an order dated 23.10.2018, appointed an Official Liquidator. The petitioner's counsel informed the tribunal that an order of the High Court is to be heard in C.P. Application No. 153/2019, submitted on 01.04.2019, wherein a prayer has been made before the High Court to recall an impugned order dated 28.08.2018, which is yet to be placed for hearing.

## Facts

The case is before the Mumbai Bench of the National Company Law Tribunal (NCLT) under CP(IB)-3528(MB)/2018. Oriental Bank of Commerce is the petitioner, and Vadraj Cement Ltd. is the respondent. The case involves Section 7 of the Insolvency and Bankruptcy Code (IBC). An order sheet dated 07.01.2019 records that the Bombay High Court appointed an Official Liquidator via an order dated 23.10.2018. Oriental Bank of Commerce seeks to recall an order dated 28.08.2018 of the Bombay High Court through C.P. Application No. 153/2019, submitted on 01.04.2019. The impugned order is yet to be placed for hearing. The application is to be listed in the near future. The petition is listed for the next hearing on 12.06.2019.

## Issues and analysis

### Issue 1: Whether the Bombay High Court's order dated 23.10.2018 appointing an Official Liquidator should be …

**Ratio:** The ratio decidendi will depend on the specific grounds on which the recall is sought and

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**Reasoning:** The reasoning will depend on the specific arguments presented by Oriental Bank of

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**Interpretation:** The interpretation involves understanding the legal basis for appointing an

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**Application:** The application involves applying the relevant legal principles and precedents

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Oriental Bank of…
- **Respondents:** Vadraj Ceme…

## Timeline

- **2018-08-28 — Impugned Ord…**: Date of the impugned order by the Hon'ble…
- **2018-10-23 — Official Liquidator…**: Bombay High Court appointed…

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