# In the matter of EMTA Coal Limited

> NCLT judgment dated 2024-04-16. Citation: TCN-2024-NCLT-01701. The case involves an application (IA (IB) No. 1577/ (KB) /2023) in a corporate insolvency…

- **Court:** NCLT
- **Order date:** 16 Apr 2024
- **Citation:** TCN-2024-NCLT-01701
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/emta-coal-limited-0a355b59

## Summary

### Background

The case involves an application (IA (IB) No. 1577/ (KB) /2023) in a corporate insolvency resolution process (CP No. 634/(KB) /2020) before the National Company Law Tribunal (NCLT), Kolkata. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is the financial creditor, and EMTA Coal Limited is the corporate debtor. The application seeks leave for the corporate debtor to advance a supplementary argument to what was previously argued during a hearing on 2023-09-12.

## Facts

L&T Finance Limited is a company with its registered office in Kolkata. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is the financial creditor in this matter. EMTA Coal Limited, with its registered office in Kolkata, is the corporate debtor. An application, IA (IB) No. 1577/ (KB) /2023, was filed in CP No. 634/(KB) /2020 under Section 60(5) of the IBC, seeking leave for the corporate debtor to present a supplementary argument to what was argued on 2023-09-12. The court had previously passed orders in IA (IB)504/KB/2022 & IA (IB)1371/KB/2023. The application was ultimately dismissed as inconsequential.

## Issues and analysis

### Issue 1: Whether the application (IA (IB) No. 1577/ (KB) /2023) seeking leave for the corporate debtor to …

**Ratio:** The court has the discretion to allow or disallow applications based on their relevance

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**Reasoning:** The court considered the application in the context of previous orders (IA

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**Interpretation:** The court interpreted the application as being inconsequential to the overall

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**Application:** The court applied its discretion to dismiss the application, finding that the

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## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Respondents:** EMTA COAL L…; Pheonix ARC…

## Timeline

- **2023-09-12 — Previous H…**: Hearing where the original arguments were presented, to which the corporate debtor sought…
- **2024-04-16 — Order Pronou…**: Date of pronouncement of the order dismissing IA (IB) No. 1577/ (KB) /2023 as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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