# In the matter of Kingston Paptech Pvt. Ltd. C.P.(IB)-65(AHM)2022

> NCLT judgment dated 2022-06-29. Citation: TCN-2022-NCLT-01994. The case pertains to proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 29 Jun 2022
- **Citation:** TCN-2022-NCLT-01994
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kingston-paptech-pvt-ltd-cpib-65ahm2022-6ea2f53c

## Summary

### Background

The case pertains to proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). State Bank of India (SBI) filed an application against Kingston Paptech Pvt Ltd. The matter was heard by the National Company Law Tribunal (NCLT), Ahmedabad.

## Facts

State Bank of India (SBI) filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Kingston Paptech Pvt Ltd. During the proceedings, it was brought to the court's attention that the debt owed by Kingston Paptech Pvt Ltd to SBI had been assigned to Raj Radhe Finance Limited. As a result of this assignment, the court determined that SBI's application became infructuous.

## Issues and analysis

### Issue 1: Whether the application filed by State Bank of India under Section 7 of the IBC should be dismissed …

**Ratio:** The assignment of debt transfers the rights of the original creditor to the assignee. If

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**Reasoning:** The court reasoned that since the debt had been assigned to Raj Radhe Finance Limited,

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**Interpretation:** The interpretation is that the right to initiate or continue proceedings under

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**Application:** In this case, the assignment of debt from SBI to Raj Radhe Finance Limited

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## Parties

- **Judges:** Madan B.…; KAUSHALENDRA…
- **Appellants:** State Bank of…
- **Respondents:** Kingston Paptech…

## Timeline

- **2022-06-29 — Order Del…**: The order was delivered, disposing of the application as infructuous due to the…

## 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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