# In the matter of Hindusthan National Glass & Industries Limited IVN. P. (IB) No. 16-KB-2022 in
C.P. (IB) No. 369-KB-2020

> NCLT judgment dated 2022-09-21. Citation: TCN-2022-NCLT-00971. The U.P. Glass Manufacturers Syndicate filed an intervention petition against the submission of…

- **Court:** NCLT
- **Order date:** 21 Sept 2022
- **Citation:** TCN-2022-NCLT-00971
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/hindusthan-national-glass-industries-limited-ivn-p-ib-no-16-kb-2022-in-cp-ib-no-971520e6

## Summary

### Background

The U.P. Glass Manufacturers Syndicate filed an intervention petition against the submission of resolution plans by Nirma Chemical Works Private Limited and AGI Greenpac Limited in the Corporate Insolvency Resolution Process (CIRP) of Hindusthan National Glass & Industries Limited. The applicant, an industry association representing small and medium-scale glass manufacturers, argued that the acquisition of the Corporate Debtor by Respondent No. 3 or 4 would likely attract section 5 of the Competition Act, 2002, potentially leading to an adverse effect on competition in the market. The applicant contended that the Resolution Plans submitted by Respondent Nos. 4 and 5 would also result in a combination within the meaning of section 5 of the Competition Act, 2002.

## Facts

The U.P. Glass Manufacturers Syndicate, an industry association representing small and medium-scale glass manufacturers, filed an intervention petition against the resolution plans submitted by Nirma Chemical Works Private Limited (Respondent No. 3) and AGI Greenpac Limited (Respondent No. 4) in the CIRP of Hindusthan National Glass & Industries Limited (Corporate Debtor). The applicant argued that the acquisition of the Corporate Debtor by Respondent No. 3 or 4 would likely attract section 5 of the Competition Act, 2002, potentially leading to an adverse effect on competition, as Respondent No. 3 is the largest producer of Soda Ash in India with approximately 38% market share, and the Corporate Debtor is the largest glass manufacturer in India with an estimated

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## Issues and analysis

### Issue 1: Whether the Applicant has locus standi to file an intervention petition in the CIRP of the …

**Ratio:** The principle of locus standi dictates that only parties with a direct and material

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**Reasoning:** The court reasoned that the Applicant, being neither a financial creditor nor an

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**Interpretation:** The court interpreted the provisions of the Insolvency and Bankruptcy Code,

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**Application:** The court applied the principle of locus standi to the facts of the case,

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## Parties

- **Judges:** Rohit K…; Balraj…; +1 more
- **Appellants:** The U.P. Glass…
- **Respondents:** Hindusthan…; Girish Sriram…

## Timeline

- **2021-10-21 — Admission in…**: The Adjudicating Authority admitted Hindusthan National Glass & Industries Limited into…
- **2022-09-13 — Date of h…**: Hearing of th…

## 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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