# In the matter of Saraya Industries Ltd.

> NCLT judgment dated 2025-07-15. Citation: TCN-2025-NCLT-01157. The present application, I.A No. 6381/2023 in C.P. (IB) No. 2628/(ND)/2019, was filed by the…

- **Court:** NCLT
- **Order date:** 15 Jul 2025
- **Citation:** TCN-2025-NCLT-01157
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/saraya-industries-ltd-379ed0c5

## Summary

### Background

The present application, I.A No. 6381/2023 in C.P. (IB) No. 2628/(ND)/2019, was filed by the authorized representative of 49 workmen/employees of M/s Saraya Industries Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 11 of the NCLT Rules, 2016, seeking condonation of delay in filing claims and directing the Interim Resolution Professional to accept their claims.

## Facts

CIRP against Saraya Industries was admitted on 17 May 2022, and an IRP was appointed.

The applicants were employed as workers of the Corporate Debtor and continued their employment until August 2022.

The applicants submitted their claim to the Resolution Professional on 31.11.2023.

The IRP rejected the claim vide E-Mail dated 03.11.2023 on the ground that it was filed after the deadline of May 31, 2022, and beyond the 90-day period permitted under Regulation 12(2).

The Committee of Creditors (CoC) approved a resolution plan on July 11, 2023.

The last date for submission of claim was 31.05.2022 and the Resolution Plan has been approved by the Committee of Creditors on 11.07.2023.

## Issues and analysis

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

**Ratio:** Regulation 12(2) of the IBBI (Insolvency Resolution Process for Corporate Persons)

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**Reasoning:** The applicant argues that Regulation 12(2) does not specify the status of creditors who

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**Interpretation:** The tribunal interprets the relevant provisions of the IBC and regulations to

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**Application:** The tribunal applies the legal principles to the facts of the case to determine

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## Parties

- **Judges:** JYOTSNA S…; Anu Jagmoha…
- **Appellants:** Punjab National…; WORKERS/EMPLOYEES…; +1 more
- **Respondents:** SARAYA INDUSTRIES…; SHRAVAN KUMAR…
- **Other parties:** Shravan Kumar…
- **Advocates:** Karuna…; Abhishek…; +2 more

## Timeline

- **2022-05-17 — CIRP Commen…**: CIRP against Saraya…
- **2022-05-22 — Public Annou…**: Public announcement was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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