# In the matter of Morarjee Textiles Limited

> NCLT judgment dated 2025-06-04. Citation: TCN-2025-NCLT-01069. The case involves applications related to the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 4 Jun 2025
- **Citation:** TCN-2025-NCLT-01069
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/morarjee-textiles-limited-0b0e34d0

## Summary

### Background

The case involves applications related to the Insolvency and Bankruptcy Code, 2016, specifically concerning Morarjee Textiles Limited. The Resolution Professional filed an application seeking condonation of delay in filing claims by creditors and other reliefs.

## Facts

Axis Bank Limited initiated proceedings against Morarjee Textiles Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016.

Mr. Ravi Sethia, the Resolution Professional of Morarjee Textiles Limited, filed an application under Section 60(5) of the IBC read with Regulation 13 of the IBBI regulations.

The Corporate Debtor, Morarjee Textiles Limited, has been undergoing Corporate Insolvency Resolution Process (CIRP) since February 9, 2024.

The Resolution Professional issued Form G on May 1, 2024, inviting expressions of interest from prospective resolution applicants.

The Resolution Professional verified and categorized claims as acceptable and non-acceptable according to Regulation 13 of the CIRP Regulations.

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## Issues and analysis

### Issue 1: Whether the delay in filing claims by …

**Ratio:** Regulation 13(1B) and (1C) of IBBI (Insolvency Resolution Process for Corporate Persons)

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**Reasoning:** The regulations provide a framework for dealing with claims received after the specified

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**Interpretation:** The interim resolution professional or resolution professional shall verify all

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**Application:** The Tribunal considered the CoC recommendation and the procedure followed by

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Appellants:** Axis Bank L…
- **Respondents:** Morarjee Textiles…
- **Other parties:** Ravi Se…
- **Advocates:** Ryan D.…; Nita…; +2 more

## Timeline

- **2024-02-09 — CIRP Comm…**: Corporate Debtor has been undergoing…
- **2024-05-01 — Form G I…**: Applicant had issued Form G on 1st May 2024 for inviting expressions of interest from the…

## 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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