# In the matter of JSM Oilfield Services Private Limited

> NCLT judgment dated 2024-06-03. Citation: TCN-2024-NCLT-01255. The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi,…

- **Court:** NCLT
- **Order date:** 3 Jun 2024
- **Citation:** TCN-2024-NCLT-01255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jsm-oilfield-services-private-limited-f5bb3fb6

## Summary

### Background

The case pertains to a matter before the National Company Law Tribunal (NCLT), New Delhi, Principal Bench, concerning an application/petition filed by Kirron Dutta against JSM Oilfield Services Private Limited. The order is issued under Section 433(e)/433(f) of the Companies Act, 1956. The matter was initially posted for dismissal. The applicant was directed to upload Form-1 as prescribed under Rule 4 of The Insolvency & Bankruptcy Code (Application to Adjudicating Authority) Rules, 2016. The petitioner's counsel stated that he is an Operational Creditor and would file the appropriate form.

## Facts

Kirron Dutta filed an application/petition against JSM Oilfield Services Private Limited before the NCLT, New Delhi. The case was initially listed for dismissal. The applicant's counsel stated he is an Operational Creditor. The NCLT directed the applicant to upload Form-1 as prescribed under Rule 4 of the Insolvency & Bankruptcy Code (Application to Adjudicating Authority) Rules, 2016. The matter was adjourned to 30.07.2024. The Tribunal also sought input from the IBBI regarding the handling of winding-up cases transferred under Section 433(1) of the Companies Act, 2013, suggesting a potential application for initiation of CIRP under IBC, 2016. The order was issued under Section 433(e)/433(f) of the Companies Act, 1956.

## Issues and analysis

### Issue 1: Whether the applicant has complied with the procedural requirements under the Insolvency & …

**Ratio:** Compliance with procedural rules is essential for the proper adjudication of cases under

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**Reasoning:** The court directed the applicant to upload Form-1 as prescribed under Rule 4 of the

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**Interpretation:** The interpretation of the procedural rules under the IBC is crucial for

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**Application:** The applicant was given time to comply with the requirement to upload Form-1,

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## Parties

- **Judges:** Ramalingam…; Sh. Avinash K.…
- **Appellants:** Kirron…
- **Respondents:** JSM Oilfield…

## Timeline

- **2024-05-20 — Previous…**: The Ld. Counsel for the applicant was asked to upload Form-1 as prescribed under Rule 4…
- **2023-08-08 — Directions…**: Ld. Counsel seeks further time to comply with the directions given vide order dated…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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