# In the matter of ANG Industries Ltd. IB- 292(ND)-2017

> NCLT judgment dated 2023-02-13. Citation: TCN-2023-NCLT-04619. The case pertains to M/s. ANG Industries Ltd. under the IBC Code, 2016. The matter involves…

- **Court:** NCLT
- **Order date:** 13 Feb 2023
- **Citation:** TCN-2023-NCLT-04619
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ang-industries-ltd-ib-292nd-2017-6e9f3fc4

## Summary

### Background

The case pertains to M/s. ANG Industries Ltd. under the IBC Code, 2016. The matter involves operational problems expressed by the Liquidator's counsel, specifically regarding preserving records under Regulation 45A(3) and 45A(6).

## Facts

The case involves M/s. ANG Industries Ltd. under the IBC Code, 2016. The Liquidator's counsel raised concerns about operational problems, particularly in preserving records as per Regulation 45A(3) and 45A(6). The liquidation cost needs to include all expenditures for the Corporate Debtor's dissolution. The Liquidator is directed to approach IBBI for clarification within ten days. The matter is listed for further hearing on 06.03.2023.

## Issues and analysis

### Issue 1: Whether the Liquidator should approach IBBI for clarification regarding operational problems in …

**Ratio:** The court has the power to direct the liquidator to seek clarification from regulatory

…

**Reasoning:** The court reasoned that seeking clarification from IBBI would help resolve the

…

**Interpretation:** This issue involves the interpretation of the powers of the adjudicating

…

**Application:** The court applied this principle by directing the liquidator to approach IBBI

…

## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Respondents:** M/s ANG Industries…

## Timeline

- **2023-02-13 — Order Del…**: Order delivered on…
- **2023-03-06 — Matter L…**: Matter listed on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

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/ang-industries-ltd-ib-292nd-2017-6e9f3fc4