IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH,
(COURT-II)
KOLKATA
I.A . No. 145/KB/2023
and
TA No. 08/KB/2022
In the matter of:
Sylvan Commercial Private Limited
… Applicant
Versus
The Official Liquidator,
High Court at Calcutta
… Respondent
And
I.A . No. 145/KB/2023
An application filed under section 60(5) of the Insolvency and Bankruptcy
Code,2016 read with rule 11 of the National Company Law Tribunal Rules,
2016.
In the matter of:
Sylvan Commercial Private Limited
… Applicant
Nitin Daga, Resolution Professional of
Rishra Steel Limited
… Respondent
Date of hearing: 24.08.2023
Date of pronouncement: 05.10.2023
Coram:
Smt. Bidisha Banerjee, Member (Judicial)
Shri D. Arvind, Member (Technical)
Appearances (via hybrid mode):
For the Resolution : 1. Mr. Patita Paban Bishwal, Advocate
Professional 2. Ms. Suranjana Chatterjee, Advocate
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH, (COURT-II)
I.A . No. 145/KB/2023 and TA No. 08/KB/2022
3. Mr. Nitin Daga, RP
For Sylvan Commercial : 1. Mr. Rishav Banerjee, Advocate
Private Limited 2. Mr. Zeeshan Haque, Advocate
3. Mr. Ram Maroo, Advocate
ORDER
Per: D. Arvind, Member (Technical)
1. This Court convened through hybrid mode.
2. The I.A. has been filed by Sylvan Commercial Private Limited praying
for the following reliefs:
a. An order be made directing the Resolution Professional to furnish
all documents, records as referred to in his Supplementary
Affidavit dated May 02, 2023 before this Learned Tribunal;
b. An order be made directing the Resolution Professional to
forthwith adjudicate the claims of the Applicant in terms of the
Order dated 06.08.2021 passed by the Hon’ble Supreme Court of
India;
c. An order staying all further proceedings in T.A. No. 8/KB/2022 till
the disposal of the instant applicant;
d. Ad interim orders in terms of prayers above;
e. Such further and/or other order or orders and/or direction or
directions as to this Hon’ble Tribunal may deem fit and proper.
3. Submission of the Applicant
3.1. The Transfer Application being T.A. No. 8/KB/2022 has been
transferred to this Tribunal from the Hon’ble High Court at Calcutta
seeking resolution of the Corporate Debtor.
3.2. Rishra Steel Limited was wound up on 04 June 1990 and the Official
Liquidator too possession of the assets of Rishra Steel Limited. In the
year 1995, the workmen of Rishra Steel Limited filed an application
being C.P. No. 517 of 1995 in the Hon’ble High Court at Calcutta
Page 2 of 6
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH, (COURT-II)
I.A . No. 145/KB/2023 and TA No. 08/KB/2022
seeking revival of Rishra Steel Limited with the aid of Sylvan
Commercial Private Limited.
3.3. The Hon’ble High Court at Calcutta vide order dated 02 May 1997,
directed Sylvan Commercial Private Limited to restart the production
in Rishra Steel Limited by utilising the assets, properties, plant and
machinery of Rishra Steel Limited under the administration,
supervision and control of Justice B.L. Jain, who was appointed as the
Administrator.
3.4. Pursuant to the said order, the Applicant took steps to restart Rishra
Steel Limited and incurred several expenses by constructing and
repairing the boundary wall and appointing security guards in the
factory premises. Furthermore. The Applicant also deposited a sum of
Rs.2,56,000/- towards the dues of West Bengal State Electricity Board.
The Applicant had also deposited a sum of Rs.10,00,000/- with the
Official Liquidator who would hold the same till the restoration of
electricity, a further sum of Rs.10,00,000/- was to be paid after
restoration of electricity and a further payment of Rs.5,00,000/- every
month was to be deposited with the Official Liquidator.
3.5. The claims of the Applicant was admitted by the Administrator
appointed by the Hon’ble High Court at Calcutta who stated in his
report that an amount Rs.2,15,68,213.54 was due and payable to the
Applicant on account of the expenses incurred in restarting the
operations of Rishra Steel Limited. The report was submitted to the
Official Liquidator.
3.6. The Applicant submitted all the vouchers, bills and invoices to the
Official Liquidator vide its letter dated 07 February 2020.
3.7. Thereafter, the claim of the Applicant was adjudicated upon by the
Official Liquidator and vide order dated 24 February 2020, the claim
of the Applicant was partially admitted i.e. Rs.57,86,335/- and
Rs.1,57,81,878 was rejected.
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IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH, (COURT-II)
I.A . No. 145/KB/2023 and TA No. 08/KB/2022
3.8. The Applicant filed an appeal against the order dated 24 February 2020,
the Hon’ble Supreme Court vide order dated 06 August 2021 recorded
as follows:
“Mr. Ranjit Kumar, learned senior counsel appearing for Sylvan
Commercial Private Limited referred to the Order dated 09.10.2018
passed by court by which the Scheme for revival made by Respondent
no. 1 was directed to be presented before the Company Judge who shall
examine the matter on merits after considering the objections of the
other parties. All parties including the Workers Union were directed
to appear before the Company Judge. By an Order dated 26.11.2019,
this Court directed the Official Liquidator to adjudicate the claim of
Sylvan Commercial Pvt. Ltd. within a period of three months. The
Official Liquidator submitted its reports to this Court to which the
objections have been filed by the 1st respondent and M/s. Sylvan
Commercial Pvt. Ltd.”
3.9. Subsequent to the said order, this Tribunal vide order dated 20 March
2023 in T.A. No. 08 of 2022, issued notice upon the Resolution
Professional with respect to the documents forwarded by the Official
Liquidator.
3.10. The Resolution Professional filed a supplementary affidavit
dated 02 May 2023, stating the documents in his possession, but there
was no mention about the bills, vouchers and invoices in twelve
volumes which was submitted to the Official Liquidator as proof of the
claim of the Applicant.
3.11. During the hearing of the applications before this Tribunal on 16
August 2023, the Applicant came to learn that ta Resolution Plan has
been submitted by the Resolution Applicant and an application for
approval of the Resolution Plan was filed before this Tribunal, without
considering the claim of the Applicant, which was a clear violation of
the order dated 06 August 2021.
Page 4 of 6
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH, (COURT-II)
I.A . No. 145/KB/2023 and TA No. 08/KB/2022
Analysis and findings
4. Heard the learned Counsel appearing on behalf of the Applicant and
perused the records.
5. The Applicant has annexed several invoices/bills to the said application
in question, and even if we consider the fact that the Applicant had filed
its claim with the Official Liquidator, and the Official Liquidator had
accepted its claim, but the same was done during the winding up period.
6. After the case was transferred to this Adjudicating Authority and the
Rishra Steel Limited was admitted into Corporate Insolvency Resolution
Process, which is not related to the winding up proceedings. After
publication of notice in Form A by the Insolvency Resolution
Professional, inviting claims from creditors, it was the responsibility of
the Applicant to file its claim in the respective form with the Resolution
Professional irrespective of the fact that the Official Liquidator had
admitted its claim or not. In the entire pleadings, the Applicant has not
stated of doing so, but has continuously sought for production of its
documents.
7. After transfer of winding up petitions to the NCLT, the same is treated
under the Insolvency and Bankruptcy Code, 2016 (“Code”) and hence,
the process under the Code is to be followed, which has not been done
in the present case. Hence, we do not find any merit in allowing the
prayer of the Applicant to direct the Resolution Professional to produce
the invoices, that was submitted to the official Liquidator, which in turn
has been given to Resolution Professional.
8. Be that as it may, in view of the order of the Hon’ble Supreme Court 06
August 2021, and the order wherein we have sent the Resolution Plan
for reconsideration by the CoC, we direct the Applicant to file its claim
before the Resolution Professional, and the Resolution Professional is
directed to collate the claim accordingly.
9. In view of the above observations and directions, I.A. No. 145/KB/2023
and TA No. 08/KB/2022 is hereby disposed.
Page 5 of 6
IN THE NATIONAL COMPANY LAW TRIBUNAL
KOLKATA BENCH, (COURT-II)
I.A . No. 145/KB/2023 and TA No. 08/KB/2022
10. The Registry is directed to send e-mail copies of the order forthwith to
all the parties and their Ld. Counsel for information and for taking
necessary steps.
11. Certified copy of this order may be issued, if applied for, upon
compliance of all requisite formalities.
D. Arvind Bidisha Banerjee
Member (Technical) Member (Judicial)
Order signed on the 5th day of October 2023.
GGRB_LRA
Page 6 of 6