# In the matter of OHM Srinivasa Paper Boards Private Limited IA(IBC)-1447(CHE)-2022 in  CP-IB-130(CHE)-2021

> NCLT judgment dated 2023-05-12. Citation: TCN-2023-NCLT-03384. The case involves an application (IA(IBC)/1447(CHE)/2022) filed by M/s. Pathy Enterprises under…

- **Court:** NCLT
- **Order date:** 12 May 2023
- **Citation:** TCN-2023-NCLT-03384
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ohm-srinivasa-paper-boards-private-limited-iaibc-1447che-2022-in-cp-ib-130che-20-67361164

## Summary

### Background

The case involves an application (IA(IBC)/1447(CHE)/2022) filed by M/s. Pathy Enterprises under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking rectification of an arithmetic error in an order dated 04.11.2022 in IBA 130/2021. The main application (CP(IB)/130(CHE)/2021) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited, was previously dismissed by the Tribunal on 04.11.2022 due to the applicant not meeting the statutory threshold.

## Facts

M/s. Pathy Enterprises filed an application (IA(IBC)/1447(CHE)/2022) seeking rectification of an arithmetic error in a previous order (dated 04.11.2022) related to IBA 130/2021. The original application (CP(IB)/130(CHE)/2021) under Section 9 of the IBC, 2016, aimed to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited. The Tribunal had dismissed the original application because the applicant, M/s. Pathy Enterprises, did not meet the statutory threshold of Rs. 1,00,00,000/-. The applicant now claims a 'calculation mistake' in the MoU, which was the basis for the original application. The debt as on 28.12.2019 as per MoU was Rs. 71,00,000/-, the value of supply made post the agreement was Rs. 30,40,000/-, making the sub-total Rs. 1,01,40,000/-. Payment

…

## Issues and analysis

### Issue 1: Whether the application IA(IBC)/1447(CHE)/2022 seeking rectification of an arithmetic error in the …

**Ratio:** The ratio is based on the principle that applications should be based on sound reasoning

…

**Reasoning:** The Tribunal reasoned that the applicant's claim of a 'calculation mistake' was not

…

**Interpretation:** The interpretation is that an application for rectification should be based on

…

**Application:** The ratio and reasoning were applied to the specific facts of the case, where

…

## Parties

- **Judges:** SANJIV…; SAMEER…
- **Appellants:** M/s. Pathy…
- **Respondents:** M/s. Ohm Srinivasa…

## Timeline

- **2021-01-01 — CP/IB/130(CHE)/2021…**: Main application filed under Section 9 of IBC, 2016, seeking to initiate CIRP against the…
- **2022-11-04 — CP/IB/130(CHE)/2021…**: The Tribunal dismissed the main application due to the applicant not meeting the…

## 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/ohm-srinivasa-paper-boards-private-limited-iaibc-1447che-2022-in-cp-ib-130che-20-67361164