# In the matter of Modern Syntex (India) Ltd. CP No. (IB)- 330-9-JPR-2019

> NCLT judgment dated 2022-04-22. Citation: TCN-2022-NCLT-03113. The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against M/s…

- **Court:** NCLT
- **Order date:** 22 Apr 2022
- **Citation:** TCN-2022-NCLT-03113
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/modern-syntex-india-ltd-cp-no-ib-330-9-jpr-2019-aafc5242

## Summary

### Background

The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against M/s Modern Syntex (India) Ltd. The matter is before the National Company Law Tribunal (NCLT), Jaipur Bench. The CIRP has already been initiated against the Corporate Debtor under CP No. (IB) 397(PB)2018, with Administrator of Specified Undertaking of Unit Trust of India Vs. Modern Syntex (India) Limited.

## Facts

The Central Warehousing Corporation filed a case against M/s Modern Syntex (India) Ltd. under Section 9 of the IBC, 2016. However, CIRP had already been initiated against M/s Modern Syntex (India) Ltd. under CP No. (IB) 397(PB)2018. Neither the Operational Creditor (Central Warehousing Corporation) nor the Corporate Debtor (M/s Modern Syntex (India) Ltd.) appeared for the hearing. The order dated 28.03.2022 initiated CIRP against the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the claim of the Operational Creditor should be considered in light of the already …

**Ratio:** When a CIRP has already been initiated against a Corporate Debtor, any claims against the

…

**Reasoning:** The court noted that CIRP had already been initiated against the Corporate Debtor.

…

**Interpretation:** This interpretation ensures that all claims against a Corporate Debtor

…

**Application:** Since CIRP was already initiated against M/s Modern Syntex (India) Ltd., the

…

## Parties

- **Judges:** Deep Chandr…; RaghuNa…
- **Appellants:** Central Warehousin…
- **Respondents:** M/S MODERN SYNTEX…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and Bankruptcy…
- **2018-01-01 — Initiation…**: CIRP initiated against the Corporate…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/modern-syntex-india-ltd-cp-no-ib-330-9-jpr-2019-aafc5242