# In the matter of Jangipur Bitumen Private Limited IA(I.B.C)-394(KB)2021 in C.P. (IB)-910KB-2018

> NCLT judgment dated 2022-05-18. Citation: TCN-2022-NCLT-02708. The case pertains to BITUMEN CORPORATION [INDIA] PRIVATE LIMITED VS JANGIPUR BITUMEN PRIVATE…

- **Court:** NCLT
- **Order date:** 18 May 2022
- **Citation:** TCN-2022-NCLT-02708
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jangipur-bitumen-private-limited-iaibc-394kb2021-in-cp-ib-910kb-2018-996cd453

## Summary

### Background

The case pertains to BITUMEN CORPORATION [INDIA] PRIVATE LIMITED VS JANGIPUR BITUMEN PRIVATE LIMITED. The IRP, Ms. Savita Agarwal, is present in person. Two suspended members of the Board of Directors of the Corporate Debtor were directed to be present physically in Court. Counsel for the suspended members submits that both directors are present, with one being bedridden and his wife being a 'pardansin' lady.

## Facts

The case involves BITUMEN CORPORATION [INDIA] PRIVATE LIMITED and JANGIPUR BITUMEN PRIVATE LIMITED. The IRP, Ms. Savita Agarwal, is present. Two suspended directors of the Corporate Debtor were ordered to appear in court. The directors claim to have provided all necessary information to the RP. The IRP intends to file for early dissolution due to the company's lack of assets to pay creditors. The court has scheduled the next hearing for 2022-06-27 and excused the directors from attending.

## Issues and analysis

### Issue 1: Whether the matter should be listed for further hearing considering the submissions made by the IRP …

**Ratio:** The court has the discretion to schedule hearings based on the progress of the insolvency

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**Reasoning:** The court considered the IRP's intention to file for early dissolution due to the lack of

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**Interpretation:** The court interprets its role as facilitating the insolvency resolution process

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**Application:** Based on the submissions, the court found it appropriate to schedule a further

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Bitumen Corporatio…
- **Respondents:** Jangipur Bitumen…

## Timeline

- **2022-04-08 — Order for Director…**: Two suspended members of the Board of Directors of the Corporate Debtor were directed to…
- **2022-05-18 — Hearing…**: Hearing held; IRP present, directors…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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