# In the matter of ARGL Limited

> NCLT judgment dated 2023-05-19. Citation: TCN-2023-NCLT-03258. The case involves an application (IA-43/2022) against an order dated 17.09.2021 passed by the…

- **Court:** NCLT
- **Order date:** 19 May 2023
- **Citation:** TCN-2023-NCLT-03258
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/argl-limited-8ab26f6d

## Summary

### Background

The case involves an application (IA-43/2022) against an order dated 17.09.2021 passed by the Regional Director (RD), Northern Region, which denied ARGL Limited's request to change its registered address. The applicant, now under new management due to a Corporate Insolvency Resolution Process (CIRP), argues that the RD's decision hinders the insolvency resolution process. The new management acquired the Respondent company via an order dated 02.12.2019.

## Facts

The Union of India, through the Regional Director (Northern Region), initiated proceedings against Argl Ltd. The core issue revolves around an order passed by the RD on 17.09.2021, which rejected Argl Ltd.'s request to change its registered address. Argl Ltd. is undergoing a Corporate Insolvency Resolution Process (CIRP), with new management in place since 02.12.2019, following an order in CP (IB) No. 53(PB)/2017. The new management argues that the RD's refusal to allow the address change impedes their efforts to resolve the company's insolvency, potentially violating the spirit of the IBC, 2016, particularly Sections 7, 9 to 31. Section 32(A) of the IBC, 2016 provides immunity to the new management and the Corporate Debtor from certain liabilities. The applicant

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## Issues and analysis

### Issue 1: Whether the present application is maintainable before the Tribunal, considering that the Companies …

**Ratio:** The maintainability of the application hinges on whether the Companies Act, 2013 provides

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**Reasoning:** The Tribunal acknowledges the argument that the Companies Act, 2013 might not offer a

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**Interpretation:** The interpretation involves examining the scope of the Tribunal's powers under

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**Application:** The Tribunal must ascertain if the absence of a specific remedy under the

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. L. N.…
- **Appellants:** Union of India,…
- **Respondents:** ARGL…

## Timeline

- **2021-09-17 — Order by R…**: The Regional Director (Northern Region) passed an order denying ARGL Limited's request to…
- **2019-12-02 — CIRP Admi…**: ARGL Limited was admitted into Corporate Insolvency Resolution Process (CIRP) via an…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 224(5) — Insolvency and Bankruptcy Fund](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-224)

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