# In the matter of Trikalp Laminates India Pvt. Ltd. IA-2671 & 2672-ND-2022 in IB-623-ND-2020

> NCLT judgment dated 2022-08-10. Citation: TCN-2022-NCLT-01422. The case involves applications IA/2672/ND/2022 and IA/2671/ND/2022 filed in IB/623/ND/2020.…

- **Court:** NCLT
- **Order date:** 10 Aug 2022
- **Citation:** TCN-2022-NCLT-01422
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/trikalp-laminates-india-pvt-ltd-ia-2671-2672-nd-2022-in-ib-623-nd-2020-adfdfb50

## Summary

### Background

The case involves applications IA/2672/ND/2022 and IA/2671/ND/2022 filed in IB/623/ND/2020. IA/2672/ND/2022 sought exclusion of a period for CIRP calculation due to delayed intimation to the IRP. IA/2671/ND/2022 was filed by the IRP under Section 12A of the IBC, 2016, stating settlement between parties and requesting withdrawal of CIRP proceedings. The corporate debtor had settled the matter by making the payment to the operational creditor.

## Facts

S.K. Enterprises filed an application. Trikalp Laminates India Pvt Ltd. is the respondent. IA/2672/ND/2022 was filed seeking exclusion of the period from 22.06.2021 to 26.05.2022 (335 days) for CIRP calculation. The intimation to the IRP was delayed, received on 26.05.2022, even though the CIRP proceedings were initiated on 22.06.2021. The IRP, Ms. Rukhsana Chaudhary, stated that the email mentioned in the order was incorrect. The Corporate Debtor sent an email stating the matter was settled, and payment was made in February 2021 to the Operational Creditor. IA/2671/ND/2022 was filed by the IRP under Section 12A of the IBC, 2016, stating the matter was settled. 'Form FA' was placed on record, signed by the Operational Creditor. The IRP confirmed that all dues were

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## Issues and analysis

### Issue 1: Whether the period from 22.06.2021 to 26.05.2022 should be excluded for the purpose of CIRP …

**Ratio:** The principle is that delays in intimation to the IRP, especially when impacting the CIRP

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**Reasoning:** The court considered the fact that the intimation to the IRP was delayed and received on

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**Interpretation:** The interpretation is that the court has the discretion to exclude periods of

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**Application:** Given the delay in intimation, the court applied the principle and excluded the

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## Parties

- **Judges:** DHARMINDER…; BINOD KUMAR…
- **Appellants:** S.K Enter…
- **Respondents:** Trikalp Laminates…
- **Advocates:** Amarjeet…; Animesh Kha…; +2 more

## Timeline

- **2021-02-01 — Payment to Operational…**: The Corporate Debtor made the…
- **2021-06-22 — CIRP Init…**: CIRP proceedings were…

## 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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