# In the matter of Prabhatam Advertising Private Limited

> NCLT judgment dated 2023-05-03. Citation: TCN-2023-NCLT-03490. The case involves an application (IA-2460/2023) where the applicant, representing an…

- **Court:** NCLT
- **Order date:** 3 May 2023
- **Citation:** TCN-2023-NCLT-03490
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/prabhatam-advertising-private-limited-6a7b40b0

## Summary

### Background

The case involves an application (IA-2460/2023) where the applicant, representing an Operational Creditor (OC), seeks directions from the court to the Resolution Professional (RP) to provide information memorandum and other relevant documents to the OC, who is a participant in the Committee of Creditors (CoC). The applicant argues that these documents are essential for the OC to effectively participate in the resolution process. The applicant refers to a Supreme Court judgment to support their claim that the RP is obligated to provide these documents to Operational Creditors.

## Facts

Tulsi Nandan Kant Bansal is the applicant/petitioner. P.G. Advertising Pvt. Ltd. (erstwhile Prabhatam Advertising Private Limited) is the respondent. The applicant, representing an Operational Creditor (OC), filed IA-2460/2023 seeking directions to the Resolution Professional (RP) to provide information memorandum and other relevant documents. The applicant is a participant in the Committee of Creditors (CoC). The applicant refers to the Supreme Court judgment in Vijay Kumar Jain Vs. Standard Chartered Bank & Ors. The respondent's counsel argues that IBBI regulations only allow the information memorandum to be made available to the members of the Committee. The OCs represent 10% of the debt of the Corporate Debtor (CD). The Hon'ble Supreme Court has categorically

…

## Issues and analysis

### Issue 1: Whether the Resolution Professional is required to provide the information memorandum and other …

**Ratio:** The ratio is based on the interpretation of the Supreme Court's judgment in Vijay Kumar

…

**Reasoning:** The court reasons that the Operational Creditor, being a participant in the CoC, needs

…

**Interpretation:** The legal issue is interpreted in the context of the Supreme Court's judgment,

…

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

…

## Parties

- **Judges:** SHRI. ASHOK KUMAR…; Shri. L. N.…
- **Appellants:** Tulsi Nandan Kant…
- **Respondents:** Prabhatam…; P.G. Advertising…

## Timeline

- **2023-05-03 — Order del…**: Order delivered on…
- **2023-05-22 — Next Hearin…**: Issue notice to the Respondent…

## 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)

---

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/prabhatam-advertising-private-limited-6a7b40b0