# In the matter of Disha Choudhary, Erst. Managing Director, Dreamz Infra India Limited vs. DreamzSneh Project Allottees Welfare Association
& Anr.

> NCLAT judgment dated 2024-05-14. Citation: TCN-2024-NCLAT-00438. The appeal challenges the order dated 15.02.2023 passed in CP (IB) No. 83/BB/2021, initiated…

- **Court:** NCLAT
- **Order date:** 14 May 2024
- **Citation:** TCN-2024-NCLAT-00438
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/disha-choudhary-erst-managing-director-dreamz-infra-india-limited-vs-dreamzsneh-53d731df

## Summary

### Background

The appeal challenges the order dated 15.02.2023 passed in CP (IB) No. 83/BB/2021, initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Dreamz Sneh Project Allottees Welfare Association against Dreamz Infra India Limited (Corporate Debtor). The Corporate Debtor was incorporated on 16.01.2012 and floated various housing projects including Dreamz Sumadhur Project and Dreamz Sneh Project. The projects faced issues leading to police complaints, civil suits, consumer court cases, and PILs. The appellant, Disha Choudhary, who is the MD and various stakeholders of the Corporate Debtor were in judicial custody for about three years and disqualified under Section 164 of the Companies Act, 2013 for non-filing of annual returns. An earlier CIRP initiated

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## Facts

Disha Choudhary, the Managing Director of Dreamz Infra India Limited (Corporate Debtor), appealed against the order dated 15.02.2023 passed in CP (IB) No. 83/BB/2021, which was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Dreamz Sneh Project Allottees Welfare Association. The Corporate Debtor was incorporated on 16.01.2012 and developed multiple housing projects, including Dreamz Sumadhur Project and Dreamz Sneh Project. Due to project issues, various legal proceedings were initiated against the Corporate Debtor, including police complaints, civil suits, consumer court cases, and PILs. Disha Choudhary, along with other stakeholders, faced judicial custody and disqualification under Section 164 of the Companies Act, 2013, for failing to file

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## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by the …

**Ratio:** The limitation period for filing an application under Section 7 of the IBC is three years

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**Reasoning:** The court relied on the Supreme Court's decision in Dena Bank, which held that the

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**Interpretation:** The interpretation of the limitation period under Section 7 of the IBC is

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**Application:** In this case, the court found that the application was filed within the

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## Parties

- **Judges:** Rakesh Kuma…; Ajai Das Me…
- **Appellants:** Disha Cho…
- **Respondents:** Dreamz Infra…; DreamzSneh…

## Timeline

- **2012-01-16 — Incorporation of…**: Dreamz Infra India…
- **2014-01-01 — Corporate Debtor Floats…**: The Corporate Debtor floated various housing projects, including Dreamz Sumadhur Project…

## 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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