# In the matter of GPI Textiles Limited IA No. 1613-2022 and 470-2023 In CP (IB) No. 35-Chd-Hry-2018

> NCLT judgment dated 2023-04-27. Citation: TCN-2023-NCLT-03597. The case involves an application (IA No. 1613/2022) filed by IDBI Bank Limited against Mr.…

- **Court:** NCLT
- **Order date:** 27 Apr 2023
- **Citation:** TCN-2023-NCLT-03597
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gpi-textiles-limited-ia-no-1613-2022-and-470-2023-in-cp-ib-no-35-chd-hry-2018-6d27b02f

## Summary

### Background

The case involves an application (IA No. 1613/2022) filed by IDBI Bank Limited against Mr. Jalesh Kumar Grover, the Resolution Professional of GPI Textile Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. IDBI Bank sought to set aside an e-mail/order dated 30.06.2022, where its claim was rejected by the Resolution Professional. The Corporate Insolvency Resolution Process (CIRP) was initiated against GPI Textile Limited on 06.07.2018. IDBI Bank submitted its claim as a financial creditor on 14.11.2019, which was rejected because it was filed after the approval of the Resolution Plan. The Resolution Plan was dismissed in CA No.287/2019, and the CIRP was extended. The bank had previously filed IA No. 511/2021 challenging the rejection of its claim,

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## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against GPI Textiles Limited on 06.07.2018. IDBI Bank Limited, claiming to be a financial creditor, submitted its claim on 14.11.2019, which was rejected by the Resolution Professional because it was filed after the approval of the Resolution Plan. The Resolution Plan was subsequently dismissed by the Adjudicating Authority in CA No.287/2019, and the CIRP was extended. IDBI Bank had previously filed IA No. 511/2021 challenging the rejection of its claim, which was also rejected on 24.05.2022 due to delay. The Resolution Professional of GPI Textile Limited filed IA No. 470/2023, seeking a direction to Himachal Pradesh State Electricity Board Limited not to disconnect the electricity supply to the Corporate

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should set aside the e-mail/order dated 30.06.2022, wherein the …

**Ratio:** The principle of res judicata applies when an issue has already been decided in a

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**Reasoning:** The court reasoned that IDBI Bank had filed its claim significantly late, more than

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**Interpretation:** The interpretation is that a creditor cannot bypass the compliance requirements

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**Application:** The ratio and reasoning apply to the specific facts because IDBI Bank's claim

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** IDBI Bank…
- **Respondents:** GPI Textiles…

## Timeline

- **2018-07-06 — CIRP Init…**: Corporate Insolvency Resolution Process…
- **2018-07-14 — Form A Publ…**: Resolution Professional…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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