# In the matter of Yash Smelter Privat Limited

> NCLT judgment dated 2023-10-20. Citation: TCN-2023-NCLT-01051. The case involves applications under Section 54, Section 33(5), 35(1) & 60(5) of the Insolvency…

- **Court:** NCLT
- **Order date:** 20 Oct 2023
- **Citation:** TCN-2023-NCLT-01051
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/yash-smelter-privat-limited-f56bd274

## Summary

### Background

The case involves applications under Section 54, Section 33(5), 35(1) & 60(5) of the Insolvency and Bankruptcy Code, 2016, read with relevant regulations, concerning the liquidation process of Yash Smelter Private Limited. The liquidator sought dissolution of the Corporate Debtor and directions regarding pending applications against sundry debtors. Several IAs (IBC) were filed, including IA 1473/KB/2023, IA 1012/KB/2021, IA 1020/KB/2021, and IA 1026/KB/2021.

## Facts

Yash Smelter Private Limited is undergoing liquidation. Shashi Agarwal, the liquidator, filed applications seeking various reliefs, including the dissolution of Yash Smelter and directions regarding pending applications against sundry debtors. Several parties, including Agarwal Alloys, Soil & Enviro Industries Pvt. Ltd., Aashi Infrastructure Pvt. Ltd., and MaaJeen Steel Traders, are involved as debtors or respondents. MaaJeen Steel Traders claimed that the materials supplied by Yash Smelter were of inferior grade and informed the Corporate Debtor. They sold the material at the best available price and remitted the amount to the Corporate Debtor. Soil & Enviro Industries Pvt. Ltd. claimed that the goods were returned due to inferior quality. Aashi Infrastructure

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## Issues and analysis

### Issue 1: Whether the claim of the corporate debtor (in liquidation) against the respondent should be …

**Ratio:** In the absence of supporting documents, there

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**Reasoning:** The court reasoned that without proper documentation, it is impossible to determine the

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**Interpretation:** This highlights the importance of documentary evidence in legal proceedings,

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**Application:** The court applied this principle by denying the prayer for admitting the claim

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## Parties

- **Judges:** BIDISHA BA…; ARVIND DEVA…
- **Appellants:** Shashi Ag…
- **Respondents:** Yash Smelter…; Gaurav B…

## Timeline

- **2018-05-21 — Invoices issued by…**: Corporate Debtor issued various invoices from 21/05/2018 to 30/05/2018 of Rs.…
- **2018-06-05 — MaaJeen Steel Traders…**: MaaJeen Steel Traders informed the Corporate Debtor that the materials supplied against…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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