# In the matter of Juggilal Kamlapat Jute Mills Company Ltd. (now Geo Jute Limited)

> NCLT judgment dated 2024-01-30. Citation: TCN-2024-NCLT-02845. The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 30 Jan 2024
- **Citation:** TCN-2024-NCLT-02845
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/juggilal-kamlapat-jute-mills-company-ltd-now-geo-jute-limited-c51a6d26

## Summary

### Background

The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The matter, CP (IB) No.268/ALD/2018, was filed by Jai Narayan, an operational creditor, against M/S Juggilal Kamlapat Jute Mills Company Ltd. (now Geo Jute Limited), the corporate debtor. The matter was reserved on December 20, 2023, for pronouncement. Another related case, CP (IB) No.280/ALD/2018, titled Devi Prasad v/s M/S Juggilal Kamlapat Jute Mills Co. Ltd., was also reserved. The judgment in the Devi Prasad case was pronounced on January 19, 2023, admitting the petition and initiating CIRP against the same corporate debtor.

## Facts

Jai Narayan, an operational creditor, filed a company petition (CP (IB) No.268/ALD/2018) under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/S Juggilal Kamlapat Jute Mills Company Ltd. (now Geo Jute Limited), the corporate debtor. The matter was reserved for pronouncement on December 20, 2023. Prior to this, another petition (CP (IB) No.280/ALD/2018) filed by Devi Prasad against the same corporate debtor had already been admitted on January 19, 2023, and CIRP was initiated. The court considered the present petition in light of the existing CIRP against the same corporate debtor. The key fact is that CIRP had already been initiated against the same corporate debtor in another case, rendering the present petition infructuous.

## Issues and analysis

### Issue 1: Whether the present company petition (CP (IB) No.268/ALD/2018) filed by Jai Narayan against M/S …

**Ratio:** When CIRP has already been initiated against a corporate debtor based on a prior

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**Reasoning:** The court reasoned that since CIRP had already been initiated against M/S Juggilal

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**Interpretation:** The interpretation is that once CIRP is initiated against a corporate debtor,

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**Application:** In this case, since CIRP had already been initiated against M/S Juggilal

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Jai Nar…
- **Respondents:** M/. Juggilal…

## Timeline

- **2023-12-20 — Matter Re…**: CP (IB) No.268/ALD/2018 was…
- **2023-01-19 — CIRP Initiated in Devi…**: Judgment in CP (IB) No.280/ALD/2018 (Devi Prasad v/s M/S Juggilal Kamlapat Jute Mills Co.…

## 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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