# In the matter of Vindhyavasini Ispat Industries Pvt. Ltd.

> NCLT judgment dated 2024-03-05. Citation: TCN-2024-NCLT-02217. The case involves an application (IA 855/2024) filed by the Financial Creditor seeking…

- **Court:** NCLT
- **Order date:** 5 Mar 2024
- **Citation:** TCN-2024-NCLT-02217
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vindhyavasini-ispat-industries-pvt-ltd-a7c7bc08

## Summary

### Background

The case involves an application (IA 855/2024) filed by the Financial Creditor seeking rectification of certain clerical errors in a previous order dated 22.12.2023 related to the Corporate Insolvency Resolution Process (CIRP) of Vindhyavasini Ispat Industries Private Limited. The errors pertain to the name of the Corporate Debtor, date of incorporation, and the amount of default. Additionally, the application seeks the replacement of the Interim Resolution Professional (IRP) and exclusion of the CIRP period due to the expiration of the Authorization for Assignment (AFA) of the initially appointed IRP.

## Facts

The State Bank of India initiated a CIRP against Vindhyavasini Ispat Industries Private Limited. An order was passed on 22.12.2023 admitting the application. Subsequently, the Financial Creditor filed IA 855/2024 pointing out several clerical errors in the order, including the incorrect name of the Corporate Debtor (recorded as 'Vindhyavasini Corporation Private Limited' instead of 'Vindhyavasini Ispat Industries Private Limited'), incorrect Corporate Identity Number (CIN), incorrect date of incorporation, and incorrect default amount. The initially appointed IRP's Authorization for Assignment (AFA) expired on 23.12.2023, shortly after the admission order. The applicant sought replacement of the IRP and exclusion of the CIRP period from 22.12.2023 to 05.03.2024 due to

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## Issues and analysis

### Issue 1: Whether the clerical errors in the order dated 22.12.2023 regarding the name of the Corporate …

**Ratio:** Clerical errors in court orders can be rectified to accurately reflect the true facts and

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**Reasoning:** The court found that the submissions regarding the clerical errors were correct. The

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**Interpretation:** This issue involves the interpretation of the court's inherent power to correct

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**Application:** The court applied the principle of rectifying clerical errors by ordering the

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## Parties

- **Judges:** SH. PRABHAT…; V.G. B…
- **Appellants:** State Bank of…
- **Respondents:** Vindhyavasini…; Naren S…

## Timeline

- **2023-12-22 — Initial…**: Order passed admitting the application for CIRP against Vindhyavasini Ispat Industries…
- **2023-12-23 — AFA Expi…**: Authorization for Assignment (AFA) of the initially appointed IRP, Mr. Naren Sheth,…

## 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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