# In the matter of ABG Shipyard Ltd. Item No.112 – IA 565 of 2021 Item No. 113 - IA 767 of 2021 in CP(IB) 53 of 2017

> NCLT judgment dated 2022-03-28. Citation: TCN-2022-NCLT-03502. The case involves two applications, IA 565 of 2021 and IA 767 of 2021, filed in CP(IB) 53 of…

- **Court:** NCLT
- **Order date:** 28 Mar 2022
- **Citation:** TCN-2022-NCLT-03502
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/abg-shipyard-ltd-item-no112-ia-565-of-2021-item-no-113-ia-767-of-2021-in-cpib-53-3c9e9679

## Summary

### Background

The case involves two applications, IA 565 of 2021 and IA 767 of 2021, filed in CP(IB) 53 of 2017 before the National Company Law Tribunal (NCLT), Ahmedabad. IA 565 concerns a claimant seeking condonation of a 192-day delay in filing a claim with the liquidator. The applicant is an Operational Creditor. IA 767 involves a settlement discussion between parties, with the applicant needing more time to comply with a previous order.

## Facts

ICICI Bank Ltd filed an application against ABG Shipyard Ltd. One of the claimants sought condonation for a 192-day delay in filing a claim with the liquidator, stating they are an Operational Creditor. The application lacked supporting documents. The liquidator stated that two properties of ABG Shipyard Ltd have been disposed of, and distribution has been made to creditors. The claim details mentioned payability from 2008 and last communication from 2017. In a separate application, IA 767 of 2021, parties stated they were settling the matter, but the applicant needed more time to file an affidavit in compliance with a previous order. The relevance of the delay is that it affects the claimant's ability to participate in the distribution of assets. The disposal of

…

## Issues and analysis

### Issue 1: Whether the delay of 192 days in filing the claim …

**Ratio:** The court has the discretion to condone delays in certain circumstances, especially when

…

**Reasoning:** The court initially notes the absence of supporting documents for the claim. However, the

…

**Interpretation:** The interpretation is that while the court is willing to be lenient, it

…

**Application:** The ratio and reasoning are applied to the specific facts by granting the

…

## Parties

- **Judges:** Dr.Deepti…; Ajai Das Me…
- **Appellants:** ICICI Ban…
- **Respondents:** ABG Shipyar…

## Timeline

- **2021-01-01 — IA 565 of 202…**: Application filed by one of the claimants seeking direction to condone the delay of 192…
- **2022-01-10 — Order Date for IA 767…**: Order dated 10.01.2022 records that Learned Counsel for both sides made statement that…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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-division-bench-court-i-chenn/abg-shipyard-ltd-item-no112-ia-565-of-2021-item-no-113-ia-767-of-2021-in-cpib-53-3c9e9679