# In the matter of Web Tech Packaging (India) Pvt. Ltd. IA-5756-2020, IA- 1571-2021 , IA-3916 & 4425-2022 in (IB)-984(ND)2019

> NCLT judgment dated 2022-12-13. Citation: TCN-2022-NCLT-00180. The case involves multiple Interlocutory Applications (IAs) filed in an ongoing insolvency…

- **Court:** NCLT
- **Order date:** 13 Dec 2022
- **Citation:** TCN-2022-NCLT-00180
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/web-tech-packaging-india-pvt-ltd-ia-5756-2020-ia-1571-2021-ia-3916-4425-2022-in-1777633f

## Summary

### Background

The case involves multiple Interlocutory Applications (IAs) filed in an ongoing insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), 2016. IA-5756/2020 seeks approval of the Resolution Plan filed by the Resolution Professional (RP). IA-3916/2022 concerns the filing of replies and rejoinders on the DMS (Document Management System). IA-1571/2021 seeks direction to the Financial Creditors (FC) to pay the Corporate Insolvency Resolution Process (CIRP) costs. IA-4425/2022 relates to a theft reported at the corporate debtor's factory premises.

## Facts

M/s. A. C. Goel Paper Distributing Co. (P) Ltd. initiated insolvency proceedings against M/s. Webtech Packaging (India) Pvt. Ltd. under Section 9 of the IBC, 2016. Several IAs were filed during the CIRP. IA-5756/2020 seeks approval of the Resolution Plan. The SRA (Successful Resolution Applicant) has been found guilty of fraudulent transactions under Section 66 of the IBC. This order has been challenged before the NCLAT. IA-1571/2021 concerns the non-payment of CIRP costs by the FCs despite approval in CoC meetings. IA-4425/2022 relates to a theft at the corporate debtor's factory premises on 2022-07-02, where the RP has not yet filed a detailed report or ensured the lodging of an FIR.

## Issues and analysis

### Issue 1: Whether the Resolution Plan in IA-5756/2020 should be kept pending due to the challenge against the …

**Ratio:** The principle is that if a fundamental aspect of the resolution plan is under challenge,

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**Reasoning:** The court reasoned that since the order finding the SRA guilty of fraudulent transactions

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**Interpretation:** This highlights the importance of addressing allegations of fraudulent

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**Application:** The court applied this principle by directing the Applicant/RP to file a Status

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## Parties

- **Judges:** Sh. Ashok Kumar…; SHRI. L. N.…
- **Appellants:** M/s. A. C. Goel…
- **Respondents:** M/s. Webtech…

## Timeline

- **2021-11-12 — Order by Adjudicating…**: Order finding the SRA guilty of fraudulent…
- **2022-07-02 — Theft at Factory…**: Theft reportedly took place in the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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