# In the matter of Great Unison Contractors India Pvt. Ltd.

> NCLT judgment dated 2024-02-08. Citation: TCN-2024-NCLT-02704. The case involves an application filed by Geostar Surveys India Pvt Ltd under Section 60(5) of…

- **Court:** NCLT
- **Order date:** 8 Feb 2024
- **Citation:** TCN-2024-NCLT-02704
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/great-unison-contractors-india-pvt-ltd-10f68dc9

## Summary

### Background

The case involves an application filed by Geostar Surveys India Pvt Ltd under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to the Resolution Professional to admit their claim. Great Unison Contractors India Pvt Ltd was admitted into Corporate Insolvency Resolution Process (CIRP) on 08.01.2019. Subsequently, Dipti Mehta was appointed as the Resolution Professional. As no resolution plan was approved, the Tribunal ordered the Corporate Debtor to be liquidated on 23.01.2020, and Dipti Mehta was appointed as the Liquidator. Geostar Surveys India Pvt Ltd, the applicant, claimed outstanding dues for projects executed in Iran, Iraq, and India. The Liquidator initially rejected the claim due to delay, but the Tribunal later directed the

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## Facts

Great Unison Contractors India Pvt. Ltd. was admitted into Corporate Insolvency Resolution Process (CIRP) on 08.01.2019. Dipti Mehta was appointed as the Resolution Professional on 19.02.2019. On 23.01.2020, the Tribunal ordered the Corporate Debtor to be liquidated, and Dipti Mehta was appointed as the Liquidator. Geostar Surveys India Pvt Ltd, the applicant, claimed outstanding dues of USD 133735.08 for projects in Iran and Iraq, and Rs. 8,75,248 for an India project, based on work orders dated 15.03.2015, 15.07.2016 and 13.02.2019. The applicant submitted its claim late on 03.06.2020, which was initially rejected by the Liquidator. The Tribunal condoned the delay on 28.08.2020 and directed the Liquidator to consider the claim, deducting Rs. 1,00,000. The Liquidator

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## Issues and analysis

### Issue 1: Whether the applicant's claim for the entire amount of USD 133735.08 should be admitted based on …

**Ratio:** The duly audited financial statement of the Corporate Debtor is considered a reliable

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**Reasoning:** The Tribunal reasoned that the applicant's argument, that the absence of queries from the

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**Interpretation:** This highlights the importance of audited financial statements in insolvency

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**Application:** The Tribunal applied this principle by rejecting the applicant's argument that

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## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** Geostar Surveys…
- **Respondents:** Great Unison…; Dipti M…
- **Advocates:** Rajeev…

## Timeline

- **2019-01-08 — CIRP Admi…**: Great Unison Contractors India Pvt. Ltd. was admitted into Corporate Insolvency…
- **2019-02-19 — Appointment…**: Dipti Mehta was appointed 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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