# In the matter of KSL and Industries Ltd. CP(IB) 397 of 2018

> NCLT judgment dated 2022-02-14. Citation: TCN-2022-NCLT-04160. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 14 Feb 2022
- **Citation:** TCN-2022-NCLT-04160
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ksl-and-industries-ltd-cpib-397-of-2018-26165d82

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The erstwhile Interim Resolution Professional (IRP) has filed a separate complaint before the Insolvency and Bankruptcy Board of India (IBBI), which is pending consideration. Issues regarding pending fees and/or conduct of the erstwhile IRP/Resolution Professional and Liquidator are burdening the Adjudicating Authority.

## Facts

M/s Abhinandan Multitrade Pvt Ltd & Anr filed an application against M/s KSL & Industries under Section 7 of the IBC. The erstwhile IRP, Mr. Kiran Shah, has filed a separate complaint before IBBI, which is pending consideration. Issues of pending fees and/or conduct of the erstwhile IRP/Resolution Professional and Liquidator are burdening the Adjudicating Authority. Mr. Monaal Davawala, representing the non-applicant Respondent No.2, stated that the reply is filed. Mr. Harmish Shah, for Respondent No.1, undertakes to file the reply and serve the copy within two weeks.

## Issues and analysis

### Issue 1: Whether the issues raised in IA 263 of 2021, including the complaint filed by the erstwhile IRP …

**Ratio:** When an application concerning similar issues is already pending before IBBI, it is

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**Reasoning:** The court reasoned that since an application regarding the same issues was already before

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**Interpretation:** This interpretation emphasizes the importance of avoiding duplication of

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**Application:** The court applied this principle by directing IBBI to consider the issues

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## Parties

- **Judges:** Dr.Deepti…; KAUSHALENDRA…
- **Appellants:** M/s Abhinandan…
- **Respondents:** M/s KSL &…

## Timeline

- **2022-02-14 — Order Del…**: Order delivered on…
- **2022-04-28 — Next Hearin…**: Case listed for hearing…

## 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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