# In the matter of Reliance Naval and Engineering Ltd.

> NCLT judgment dated 2023-10-05. Citation: TCN-2023-NCLT-01387. The case pertains to proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 5 Oct 2023
- **Citation:** TCN-2023-NCLT-01387
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/reliance-naval-and-engineering-ltd-17444795

## Summary

### Background

The case pertains to proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC). The applicant claims readiness to pay the amount in compliance with an earlier order. However, the respondent's advocate argues that the amount has not been paid as per the schedule. The court is considering an application for an extension of time.

## Facts

The case involves an application under Section 7 of the IBC. IDBI is the applicant, and Reliance Naval and Engineering Ltd is the respondent. The applicant claims to be ready to pay the amount as per an earlier order. The respondent's advocate contends that the payment has not been made according to the schedule. The court is considering an application for an extension of time for the applicant to comply with the payment. The applicant is directed to comply with the amount proposed in the resolution plan.

## Issues and analysis

### Issue 1: Whether the applicant has complied with …

**Ratio:** Compliance with court orders is a fundamental principle of law. Parties are expected to

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**Reasoning:** The court noted the respondent's advocate's submission that the amount has not been paid

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**Interpretation:** The interpretation of 'compliance' involves assessing whether the applicant has

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**Application:** In this case, the court is assessing whether the applicant's actions align with

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## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** IDBI…
- **Respondents:** Reliance Naval &…
- **Advocates:** Pranjal…; Parth J Con…; +10 more

## Timeline

- **2023-10-05 — Order Del…**: Order delivered in the…
- **2023-11-22 — Next Hearin…**: Case kept 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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