# In the matter of Incab Industries Limited

> NCLT judgment dated 2025-01-08. Citation: TCN-2025-NCLT-00648. The case involves an application by Jayanta Banerjee, an operational creditor, against Incab…

- **Court:** NCLT
- **Order date:** 8 Jan 2025
- **Citation:** TCN-2025-NCLT-00648
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/incab-industries-limited-de8d9830

## Summary

### Background

The case involves an application by Jayanta Banerjee, an operational creditor, against Incab Industries Limited, the corporate debtor, and Pankaj Kumar Tibrewal, the Resolution Professional of Incab Industries Limited. The applicant sought various reliefs, including being provided with a copy of the resolution plan, intervening in the application for approval of the resolution plan, and ensuring that the resolution plan adequately addresses the interests of operational creditors. The applicant's claim stems from unpaid dues for goods supplied to the corporate debtor in 1999. The corporate debtor was declared a 'Sick Industry' in 2000, hindering the applicant's ability to pursue claims. The applicant, not being part of the Committee of Creditors (CoC), lacked

…

## Facts

Jayanta Banerjee, an operational creditor, filed an application against Incab Industries Limited (corporate debtor) and its Resolution Professional, Pankaj Kumar Tibrewal. The claim arises from unpaid dues for goods supplied in 1999. The corporate debtor was declared a 'Sick Industry' in 2000. The applicant, not being a member of the Committee of Creditors (CoC), sought a copy of the resolution plan and argued that the plan should adequately address the interests of operational creditors. The applicant contended that the proposed Nil/Zero payment to operational creditors is contrary to law, specifically Section 30(2) of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional argued that the applicant is not entitled to the resolution plan due to

…

## Issues and analysis

### Issue 1: Whether the applicant, being an operational creditor but not a member of the Committee of Creditors …

**Ratio:** An insolvency professional must ensure confidentiality of information relating to the

…

**Reasoning:** The court relied on a judgment by the NCLAT in Association of aggrieved workman of Jet

…

**Interpretation:** The confidentiality of the resolution plan is paramount, and access is

…

**Application:** Since the applicant is not a member of the CoC, they are not entitled to a copy

…

## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Appellants:** Jayanta Ba…
- **Respondents:** INCAB Industries…; Pankaj Kumar…
- **Advocates:** Abhinav V…; Shaunak…; +3 more

## Timeline

- **1999-01-01 — Supply of…**: The applicant supplied goods…
- **1999-08-27 — Demand N…**: The applicant issued a notice…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/incab-industries-limited-de8d9830