# In the matter of EPC Constructions India Limited

> NCLT judgment dated 2023-09-12. Citation: TCN-2023-NCLT-01701. This case involves an appeal filed by Slipco Construction Pvt. Ltd. against the rejection of…

- **Court:** NCLT
- **Order date:** 12 Sept 2023
- **Citation:** TCN-2023-NCLT-01701
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/epc-constructions-india-limited-8e60fa35

## Summary

### Background

This case involves an appeal filed by Slipco Construction Pvt. Ltd. against the rejection of its claim by the Liquidator of EPC Constructions India Limited during the liquidation process. Slipco Construction had a work order from EPC Constructions for construction work, which led to disputes and arbitration. An arbitration award was passed in favor of Slipco. Subsequently, EPC Constructions underwent Corporate Insolvency Resolution Process (CIRP) initiated by IDBI Bank, and later liquidation. Slipco filed a claim with the Liquidator, which was rejected due to non-compliance with the prescribed format under the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.

## Facts

EPC Constructions Ltd. issued a work order to Slipco Construction Pvt. Ltd. on 2012-03-17 for construction work valued at Rs.48717304, valid from 2012-03-01 to 2013-03-31. A dispute arose, leading to termination of the contract on 2013-02-12 and subsequent arbitration. An arbitration award was passed in favor of Slipco Construction on 2018-03-06. IDBI Bank Ltd initiated CIRP against EPC Constructions under Section 7 of the Insolvency and Bankruptcy Code, 2016, and Mr. Abhijit Guhathakurta was appointed as the Interim Resolution Professional (IRP) on 2018-04-20. The IRP issued a public announcement on 2018-04-26 inviting claims. Slipco Construction filed its claim on 2018-05-10, which was admitted as an operational debt. The IRP was confirmed as Resolution Professional

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## Issues and analysis

### Issue 1: Whether the Liquidator was justified in rejecting the claim of the Appellant, Slipco Construction …

**Ratio:** The requirement to adhere to the forms specified under the Liquidation Regulations is

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**Reasoning:** The court reasoned that the claim of the Appellant had already been admitted in CIRP and

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**Interpretation:** The court interpreted that the procedural requirements under the Liquidation

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** Slipco Constructio…
- **Respondents:** EPC Constructions…; Abhijit Guhathakur…

## Timeline

- **2012-03-17 — Work Order…**: EPC Constructions Ltd. issued a work…
- **2013-02-12 — Contract Term…**: Dispute arose between the parties which…

## Legal provisions

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

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