# In the matter of Shrenuj & Company Limited

> NCLT judgment dated 2024-01-25. Citation: TCN-2024-NCLT-02910. The case involves an appeal filed under Section 42 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 25 Jan 2024
- **Citation:** TCN-2024-NCLT-02910
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/shrenuj-company-limited-58460efe

## Summary

### Background

The case involves an appeal filed under Section 42 of the Insolvency and Bankruptcy Code, 2016, seeking a direction to the Liquidator of Shrenuj & Company Limited to admit the claim of the applicant, the Dy. Commissioner of Income Tax (OSD) (TDS)-2(2), Mumbai, and to condone the delay in filing the appeal. The Corporate Debtor, Shrenuj & Company Limited, was admitted into Corporate Insolvency Resolution Process (CIRP), which culminated in a liquidation order dated 12.07.2021, and the Respondent, Brijendra Kumar Mishra, was appointed as the Liquidator. The liquidator invited claims from creditors and workmen with a last date for submission of 19.08.2021. The applicant submitted its claim on 08.11.2021, which was rejected by the respondent due to being submitted

…

## Facts

The Corporate Debtor, Shrenuj & Company Limited, entered Corporate Insolvency Resolution Process (CIRP) and was subsequently ordered into liquidation on 2021-07-12. Brijendra Kumar Mishra was appointed as the Liquidator. The Liquidator invited claims from creditors, setting a deadline of 2021-08-19. The Dy. Commissioner of Income Tax (OSD) (TDS)-2(2), Mumbai, submitted its claim on 2021-11-08, after the specified deadline. The Liquidator rejected the claim due to the late submission. The Applicant claimed they did not receive timely communication regarding the claim submission process, only receiving a forwarded email on 2021-11-12. The Liquidator contended that emails were sent and public announcements were made in newspapers. The Applicant filed an appeal under

…

## Issues and analysis

### Issue 1: Whether the delay in filing the claim by the Dy. …

**Ratio:** The principle that the rules of limitation are not meant to destroy the substantive

…

**Reasoning:** The court considered that the liquidation process was still underway and that admitting

…

**Interpretation:** The interpretation of the law is that while there are time limits for

…

**Application:** The court applied this principle to the specific facts of the case, considering

…

## Parties

- **Judges:** ANIL RAJ C…; Kuldip Kumar…
- **Appellants:** Dy. Commissioner…
- **Respondents:** Shrenuj & Company…; Brijendra Kumar…

## Timeline

- **2021-07-12 — Liquidation…**: Shrenuj & Company Limited was…
- **2021-07-24 — Advertiseme…**: Advertisement date for inviting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5 — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

---

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/shrenuj-company-limited-58460efe