Gammon India Ltd. filed a petition under Section 433 (e) & (f) read with Section 434 of the Companies Act, 1956 before the Bombay High Court for winding up Neelkanth Mansions and Infrastructure Pvt. Ltd. (Corporate Debtor). This was based on the Corporate Debtor's default in repaying Rs. 54,86,09,635 with 15% interest p.a. as of August 15, 2016. After the enactment of the Insolvency and Bankruptcy Code, 2016, the case was transferred to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. Gammon India Ltd. then filed Form-5 under Section 9 of the IBC for initiating Corporate Insolvency Resolution Process against Neelkanth Mansions. The Adjudicating Authority dismissed the application, stating it was not maintainable against a partnership firm.

Gammon India Ltd. filed a petition under Section 433 (e) & (f) read with Section 434 of the Companies Act, 1956 before the Bombay High Court for winding up Neelkanth Mansions and Infrastructure Pvt. Ltd. (Corporate Debtor). This was based on the Corporate Debtor's default in repaying Rs. 54,86,09,635 with 15% interest p.a. as of August 15, 2016. After the enactment of the Insolvency and Bankruptcy Code, 2016, the case was transferred to the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench. Gammon India Ltd. then filed Form-5 under Section 9 of the IBC for initiating Corporate Insolvency Resolution Process against Neelkanth Mansions. The Adjudicating Authority dismissed the application, stating it was not maintainable against a partnership firm.