# In the matter of Sri lakshmi Srinivasa Jute Mills Pvt. Ltd. CP (IB) No. 74-9-AMR-2020

> NCLT judgment dated 2022-03-16. Citation: TCN-2022-NCLT-03716. The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 16 Mar 2022
- **Citation:** TCN-2022-NCLT-03716
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sri-lakshmi-srinivasa-jute-mills-pvt-ltd-cp-ib-no-74-9-amr-2020-0b3f51b4

## Summary

### Background

The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT), Amaravati Bench, regarding CP (IB) No.74/9/AMR/2020. The hearing was held on March 16, 2022. The case involves Surajmal Ramprasad as the applicant and Sri Lakshmi Srinivasa Jute Mills Pvt Ltd as the respondent. The application is filed under Section 9 of the IBC.

## Facts

The National Company Law Tribunal (NCLT), Amaravati Bench, convened a hearing on March 16, 2022, for CP (IB) No.74/9/AMR/2020, an insolvency application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). Surajmal Ramprasad is the applicant, while Sri Lakshmi Srinivasa Jute Mills Pvt Ltd is the respondent. The tribunal had already admitted CP (IB) No.73/9/AMR/2020. Consequently, the tribunal closed CP (IB) No.74/9/AMR/2020, granting the Operational Creditor the liberty to submit their claim before the Interim Resolution Professional (IRP) appointed in CP (IB) No.73/9/AMR/2020. The key fact is the closure of CP (IB) No.74/9/AMR/2020 and the direction to the Operational Creditor to file their claim in the other ongoing insolvency process.

## Issues and analysis

### Issue 1: Whether the tribunal was justified in …

**Ratio:** The tribunal has the power to consolidate or close cases to streamline the insolvency

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**Reasoning:** The tribunal likely closed CP (IB) No.74/9/AMR/2020 to avoid duplication of proceedings

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**Interpretation:** This indicates that the NCLT prioritizes efficient resolution and avoids

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**Application:** Given that CP (IB) No.73/9/AMR/2020 was already admitted, closing CP (IB)

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## Parties

- **Judges:** TELAPROLU…
- **Appellants:** Surajmal Ra…
- **Respondents:** Lakshmi Srinivasa…

## Timeline

- **2022-03-16 — Hearing…**: Hearing held for CP (IB) No.74/9/AMR/2020…
- **N/A — Order…**: CP (IB) No.74/9/AMR/2020 is closed, with liberty to the Operational Creditor to submit…

## 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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