# In the matter of Destinos India Gurus Private Limited I.A. 5423-2022 in Company Petition No. (IB) – 22-(ND)-2022

> NCLT judgment dated 2023-02-28. Citation: TCN-2023-NCLT-04430. This case involves an application filed under Rule 11 of the NCLT Rules, 2016, by the…

- **Court:** NCLT
- **Order date:** 28 Feb 2023
- **Citation:** TCN-2023-NCLT-04430
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/destinos-india-gurus-private-limited-ia-5423-2022-in-company-petition-no-ib-22-n-23c3eb54

## Summary

### Background

This case involves an application filed under Rule 11 of the NCLT Rules, 2016, by the Applicant, M/s KTC India Private Limited, seeking permission to place additional documents on record in Company Petition No. (IB) – 22/(ND)/2022. The applicant has requested the court to allow the petitioner to place on record the documents annexed in para 7 of the present application, which includes financial statements for the years 2018-19, 2019-20, and 2020-21.

## Facts

M/s KTC India Private Limited filed an application (I.A. 5423/2022) under Rule 11 of the NCLT Rules, 2016, in Company Petition No. (IB) – 22/(ND)/2022, seeking permission to place additional documents on record. These documents include financial statements for the years 2018-19, 2019-20, and 2020-21. The financial statements for 2018-19 were signed by Mr. Gurudev Singh Ahluwalia and Mr. Chander Ahuja, representing the Initial and Subsequent Shareholders, respectively. The financial statements for 2019-20 were signed by Mr. Sanjay Malhotra Ahluwalia and Mr. Chander Ahuja, representing the Initial and Subsequent Shareholders, respectively. The financial statements for 2020-21 were signed by Mr. Gurudev Singh Ahluwalia and Mr. Sanjay Malhotra as representatives of the

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## Issues and analysis

### Issue 1: Whether the Applicant should be allowed to place additional documents on record in the Company …

**Ratio:** The Supreme Court in Dena Bank (Now Bank of Baroda) Vs. C. Shivakumar Reddy & Anr.

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**Reasoning:** The Tribunal considered the arguments of both parties and the reply filed by the

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**Interpretation:** The Supreme Court's judgment clarifies that the IBC, 2016, does not prohibit

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**Application:** Based on the Supreme Court's judgment and in the interest of justice, the

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## Parties

- **Judges:** BACHU VENKAT…; RAHUL BHA…
- **Appellants:** M/s KTC India…
- **Respondents:** M/s Destinos…

## Timeline

- **2022-01-01 — Company Petiti…**: Company Petition No. (IB) –…
- **2022-01-01 — Application…**: I.A. 5423/2022 was filed by the Applicant seeking permission to place additional…

## 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)

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