# In the matter of Gupta Marriage Halls Private Limited

> NCLT judgment dated 2023-10-19. Citation: TCN-2023-NCLT-01105. The appeal was filed under Section 42 of the Insolvency and Bankruptcy Code (IBC), 2016, read…

- **Court:** NCLT
- **Order date:** 19 Oct 2023
- **Citation:** TCN-2023-NCLT-01105
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/gupta-marriage-halls-private-limited-664e70e6

## Summary

### Background

The appeal was filed under Section 42 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the NCLT Rules, 2016, seeking a direction to the Liquidator to admit the claim of the Applicant. The Corporate Insolvency Resolution Process (CIRP) was initiated vide order dated 03.09.2019 by the Adjudicating Authority in an application under Section 7 of IBC by Punjab National Bank (Financial Creditor) against M/s. Gupta Marriage Halls Private Limited (Corporate Debtor). The Liquidator rejected the Applicant's claim on 08.03.2021.

## Facts

Punjab National Bank initiated CIRP against M/s. Gupta Marriage Halls Private Limited under Section 7 of IBC, with the CIRP commencing on 03.09.2019. Mr. Mahesh Bansal was appointed as Interim Resolution Professional. The Liquidator published an advertisement on 07.01.2021, inviting claims, with a deadline of 03.02.2021. The Applicant submitted a claim of Rs. 3,24,18,528/- on 02.02.2021. The Liquidator requested additional documents via email on 12.02.2021, which were provided via letter on 13.02.2021. The Applicant also submitted copies of ledger, invoices, and audited financial statements. The Liquidator rejected the claim on 08.03.2021, citing that cheques issued by the Corporate Debtor were not presented for encashment and were barred by limitation. The Liquidator

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## Issues and analysis

### Issue 1: Whether the Liquidator was justified in rejecting the Applicant's claim based on the grounds that …

**Ratio:** The ratio is based on the principles of the Insolvency and Bankruptcy Code (IBC) and the

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**Reasoning:** The court considered the Liquidator's reasoning that the cheques were not presented for

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**Interpretation:** The interpretation involves understanding the provisions of the IBC regarding

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**Application:** In this specific case, the court considered the Liquidator's reasons for

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## Parties

- **Judges:** ATUL CHAT…; BACHU VENKAT…
- **Appellants:** M/s. Dev Ag…
- **Respondents:** M/s. Gupta…; Nitin Narang…

## Timeline

- **2019-09-03 — CIRP Init…**: CIRP initiated by Adjudicating Authority based on application under Section 7 of IBC by…
- **2021-01-07 — Advertisement f…**: Liquidator published an…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

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