# In the matter of SBA Industries Pvt. Ltd. IA 922, 1737,1414,1418,1419,1420,1640,1641-2022 & IA 104,105,118 & 119-2023 in CP (IB) No. 221-Chd-Hry-2021

> NCLT judgment dated 2023-01-16. Citation: TCN-2023-NCLT-05032. The case involves multiple IA (Interlocutory Application) numbers and CP (IB) No.…

- **Court:** NCLT
- **Order date:** 16 Jan 2023
- **Citation:** TCN-2023-NCLT-05032
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sba-industries-pvt-ltd-ia-922-1737141414181419142016401641-2022-ia-104105118-119-961913e8

## Summary

### Background

The case involves multiple IA (Interlocutory Application) numbers and CP (IB) No. 221/Chd/Hry/2021, which has been admitted under Section 9 of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of NCLT Rules, 2016. The case is between Sachin Jain, Proprietor, Shree Shanti Nath Steels (Petitioner-Operational Creditor) and SBA Industries Pvt. Ltd. (Respondent-Corporate Debtor). The court is addressing various applications related to the insolvency resolution process, including progress reports and requests for information.

## Facts

Sachin Jain, Proprietor of Shree Shanti Nath Steels, is the Petitioner-Operational Creditor in an insolvency case against SBA Industries Pvt. Ltd., the Respondent-Corporate Debtor. The case is being heard by the National Company Law Tribunal (NCLT), Chandigarh Bench. Several Interlocutory Applications (IAs) are being considered alongside the main Corporate Insolvency Resolution Process (CIRP) application, CP (IB) No. 221/Chd/Hry/2021, which has been admitted under Section 9 of the Insolvency and Bankruptcy Code, 2016. The IAs include requests for information from banks, placement of progress reports on record, and procedural matters related to filing replies and affidavits. The Interim Resolution Professional (IRP) is involved in communicating requirements to the

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## Issues and analysis

### Issue 1: Whether the respondents should be given a final …

**Ratio:** The principle of natural justice requires that all parties be given a fair opportunity to

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**Reasoning:** The court noted that the respondents had not yet filed their reply. To ensure fairness

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**Interpretation:** This reflects the court's interpretation of procedural fairness, balancing the

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**Application:** The court's decision to grant a final opportunity to file a reply applies

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## Parties

- **Judges:** SUBRATA KUM…; Harnam Singh…
- **Appellants:** Sachin…
- **Respondents:** SBA Industries…

## Timeline

- **2022-09-16 — E-mail Communication by…**: The Interim Resolution Professional (IRP) had already communicated the requirements to…
- **2023-03-31 — Next Hearin…**: The case is listed for…

## 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)

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