# In the matter of Coromandel Agrico Pvt. Ltd. CP (IB) NO.487-ALD-2019

> NCLT judgment dated 2022-04-19. Citation: TCN-2022-NCLT-03213. An application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, read with…

- **Court:** NCLT
- **Order date:** 19 Apr 2022
- **Citation:** TCN-2022-NCLT-03213
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/coromandel-agrico-pvt-ltd-cp-ib-no487-ald-2019-e513b17a

## Summary

### Background

An application was filed under Section 9 of the Insolvency & Bankruptcy Code, 2016, read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by India Glycols Limited, an operational creditor, against Coromandel Agrico Pvt. Ltd., the corporate debtor.

## Facts

India Glycols Limited, the operational creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against Coromandel Agrico Pvt. Ltd., the corporate debtor. The application was filed before the Allahabad Bench of the National Company Law Tribunal (NCLT). However, the NCLT had already passed an order in CP (IB) No.228/ALD/2018, admitting the corporate debtor into Corporate Insolvency Resolution Process (CIRP). This prior admission of CIRP rendered the Section 9 application infructuous. The operational creditor was advised to approach the Interim Resolution Professional (IRP) or Resolution Professional (RP) to file their claim. The order also provides a contingency that if the CIRP is set aside, the operational creditor can revive the

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency & Bankruptcy Code, 2016 is …

**Ratio:** When a corporate debtor is already undergoing CIRP based on a prior order, a subsequent

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**Reasoning:** The court reasoned that since the corporate debtor, Coromandel Agrico Pvt. Ltd., was

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**Interpretation:** The interpretation is that once CIRP has commenced, no further applications for

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**Application:** The ratio and reasoning were applied to the facts of the case, where the

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** India Glycols…
- **Respondents:** Coromandel Agrico…

## Timeline

- **2022-04-05 — Order Res…**: The order was reserved…
- **2022-04-19 — Order Pron…**: The order was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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