# In the matter of JBF Petrochemicals Ltd.

> NCLT judgment dated 2023-10-06. Citation: TCN-2023-NCLT-01347. Technip Energies India Limited, an operational creditor, filed an application seeking…

- **Court:** NCLT
- **Order date:** 6 Oct 2023
- **Citation:** TCN-2023-NCLT-01347
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jbf-petrochemicals-ltd-c5f14241

## Summary

### Background

Technip Energies India Limited, an operational creditor, filed an application seeking directions from the NCLT regarding the admission of its operational claim, which was partially rejected by the respondent via email dated June 15, 2022. The applicant contends that the rejected portion constitutes a substantial part of their claim. The applicant states that the relevant facts and details regarding the debt incurred are already stated in the application filed vide Diary No. 2401105/00459/2023 - IA 368/2023. The tribunal notes that necessary orders have already been passed in the matter, and detailed replies have been filed by the respondents, including the Resolution Professional and the Successful Resolution Applicant, with an approved Resolution Plan.

## Facts

Technip Energies India Limited (formerly known as Technip India Limited) is an operational creditor. They submitted a claim that was partially rejected by the Resolution Professional (Sundresh Bhat) of JBF Petrochemicals Limited via email on June 15, 2022. Technip Energies filed an application (IA 464/2023 in CP(IB) 232/2018) before the NCLT seeking directions regarding the admission of their claim. The applicant argues that the rejected portion of the claim is substantial. The tribunal notes that the applicant has already stated the relevant facts and details in a previous application (Diary No. 2401105/00459/2023 - IA 368/2023). The Resolution Professional and the Successful Resolution Applicant have filed detailed replies. An approved Resolution Plan is in place,

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## Issues and analysis

### Issue 1: Whether the NCLT should issue directions regarding the admission of the operational claim submitted …

**Ratio:** The principle is that the NCLT has the power to adjudicate on matters related to the

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**Reasoning:** The NCLT reasoned that the applicant had already submitted the relevant facts and details

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**Interpretation:** This issue involves the interpretation of the Insolvency and Bankruptcy Code

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Technip Energies…
- **Respondents:** JBF Petrochemicals…; Sundaresh…
- **Advocates:** Nipun Si…; Pracui Wa…; +4 more

## Timeline

- **2022-06-15 — Claim Rej…**: The Respondent partially rejected the operational claim submitted by the Applicant via…
- **2023-01-01 — Application…**: The Applicant states that the relevant facts and details regarding the debt incurred are…

## 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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