# In the matter of Pinky Shipyard Pvt. Ltd. IA 283,295,989,1600 & 2624-2021 in C.P. (IB)-1634(MB)-2017

> NCLT judgment dated 2022-02-22. Citation: TCN-2022-NCLT-04009. The document pertains to several Interlocutory Applications (IAs) filed in a corporate…

- **Court:** NCLT
- **Order date:** 22 Feb 2022
- **Citation:** TCN-2022-NCLT-04009
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pinky-shipyard-pvt-ltd-ia-2832959891600-2624-2021-in-cp-ib-1634mb-2017-65d49029

## Summary

### Background

The document pertains to several Interlocutory Applications (IAs) filed in a corporate insolvency resolution process before the National Company Law Tribunal (NCLT), Mumbai Bench. These IAs include IA 283/2021, IA 295/2021, IA 989/2021, IA 1600/2021, and IA 2624/2021, all within the context of C.P. (IB)-1634(MB)/2017. The applications involve various requests, including directions for refund of amounts, amendment of party memos, serving of notices, and defreezing of bank accounts of the corporate debtor in liquidation.

## Facts

The case involves multiple IAs (IA 283/2021, IA 295/2021, IA 989/2021, IA 1600/2021, IA 2624/2021) within the context of a corporate insolvency resolution process under C.P. (IB)-1634(MB)/2017. In IA 283/2021, the liquidator sought directions for the respondents to refund Rs. 6,50,000/-, of which Rs. 3,76,916/- was already refunded, leaving a balance of Rs. 2,73,084/-. The respondents failed to file a reply despite being granted an opportunity. In IA 295/2021, the liquidator sought directions against the respondents, and it was submitted that Respondent Nos. 1 and 2 had merged into Union Bank of India, requiring amendment of the memo of parties. In IA 989/2021, the respondents claimed not to have received a copy of the application. In IA 2624/2021, the liquidator

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## Issues and analysis

### Issue 1: Whether the respondents should be directed to refund the outstanding amount of Rs. 2,73,084/- to …

**Ratio:** The court has the power to direct parties to comply with their obligations under the

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**Reasoning:** The respondents were given an opportunity to file a reply but failed to do so. The

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**Interpretation:** Section 74(2) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of

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**Application:** Given the respondents' failure to file a reply and the liquidator's submission,

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## Parties

- **Judges:** Shyam Babu…; P.N. Des…
- **Respondents:** Pinky Shipyard…; Rukhsar A…

## Timeline

- **2022-02-22 — Order Da…**: Order sheet of the hearing of Mumbai Bench…
- **2021-10-21 — Previous…**: Last opportunity was granted to the Respondents to file their reply on record within a…

## 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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