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

> NCLT judgment dated 2024-03-05. Citation: TCN-2024-NCLT-02201. The case involves an application (IA 855/2024) filed in an ongoing Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 5 Mar 2024
- **Citation:** TCN-2024-NCLT-02201
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vindhyavasini-ispat-industries-pvt-ltd-a83d3094

## Summary

### Background

The case involves an application (IA 855/2024) filed in an ongoing Corporate Insolvency Resolution Process (CIRP) concerning Vindhyavasini Ispat Industries Private Limited. The application was filed by the Financial Creditor seeking rectification of certain clerical errors in a previous order dated 22.12.2023. These errors primarily relate to the incorrect naming of the Corporate Debtor and inaccuracies in financial figures. Additionally, the application seeks the replacement of the Interim Resolution Professional (IRP) due to the expiry of the Authorization for Assignment (AFA) of the initially appointed IRP, Mr. Naren Sheth, and exclusion of the CIRP period lost.

## Facts

The State Bank of India initiated CIRP against Vindhyavasini Ispat Industries Private Limited. An order was passed on 22.12.2023. IA 855/2024 was filed to rectify clerical errors in the order, including the incorrect name and CIN of the Corporate Debtor, and incorrect financial figures. The initial order incorrectly named the Corporate Debtor as 'Vindhyavasini Corporation Private Limited' instead of 'Vindhyavasini Ispat Industries Private Limited'. The CIN was also incorrect. The amount of default was also recorded incorrectly. The Authorization for Assignment (AFA) of the initially appointed IRP, Mr. Naren Sheth, expired on 23.12.2023. The applicant sought replacement of the IRP and exclusion of the CIRP period lost due to these issues. The correct amount default was

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## Issues and analysis

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

**Ratio:** Clerical errors in court orders can be rectified to ensure accuracy and prevent

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

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**Interpretation:** The interpretation is that courts can correct clerical errors to maintain the

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**Application:** The court applied this principle by ordering the correction of the Corporate

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## Parties

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

## Timeline

- **2023-12-22 — Initial Ord…**: Initial order passed which…
- **2023-12-23 — Expiry o…**: 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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