# In the matter of Trident Sugars Limited

> NCLT judgment dated 2025-04-28. Citation: TCN-2025-NCLT-00169. The case involves an application (IA(IBC) 320/2025) filed in connection with a Corporate…

- **Court:** NCLT
- **Order date:** 28 Apr 2025
- **Citation:** TCN-2025-NCLT-00169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trident-sugars-limited-8a41840c

## Summary

### Background

The case involves an application (IA(IBC) 320/2025) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Trident Sugars Limited, the Corporate Debtor, following a petition by the Financial Creditor, M/s. Prudential Ammana Sugars Limited, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application seeks condonation of delay in receiving claims under Regulation 13(1B) of the IBBI (CIRP) Regulations, 2016, and exclusion of the period during which the application was pending before the Tribunal from the CIRP timeline. The CIRP was commenced on 09.07.2024. The Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP), issued a public announcement on 12.07.2024, setting 26.07.2024

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## Facts

The Financial Creditor, M/s. Prudential Ammana Sugars Limited, initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. Trident Sugars Limited, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP commenced on 09.07.2024. Mr. Manjeet Bucha was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement (Form-A) was issued on 12.07.2024, setting 26.07.2024 as the deadline for receiving claims. The RP received a claim of Rs.33,00,000/- from Mr. Harisainath Reddy on 06.08.2024. Several claims were received after the deadline, including a claim from the property tax creditor for Rs. 8,33,620 received on 21.11.2024, and claims from Mr. V. Vijay Kumar

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can condone the delay for claims received by the …

**Ratio:** Regulation 13(1B) of the IBBI (CIRP) Regulations, 2016, allows for receiving claims after

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**Reasoning:** The Tribunal observed that the claims were filed within the 7-day period stipulated in

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**Interpretation:** Regulation 13(1B) provides a window for creditors to submit claims even after

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**Application:** In this case, the claims were filed within the stipulated 7-day period, and the

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## Parties

- **Judges:** Rammurti Ku…; SH. CHARAN…
- **Appellants:** Manjeet…
- **Respondents:** Trident Sugars…; Prudential Ammana…

## Timeline

- **2024-07-09 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced against M/s. Trident Sugars…
- **2024-07-12 — Public Annou…**: Public announcement (Form-A) issued, setting 26.07.2024 as the deadline for receiving…

## 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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