# In the matter of Mr. Jai Kishan Gupta Vs. Green Edge & Ors. CA(AT)(Ins) No. 969-970 of 2019

> NCLAT judgment dated 2019-12-06. Citation: TCN-2019-NCLAT-00050. The case involves an appeal against two impugned orders passed by the National Company Law…

- **Court:** NCLAT
- **Order date:** 6 Dec 2019
- **Citation:** TCN-2019-NCLAT-00050
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mr-jai-kishan-gupta-vs-green-edge-ors-ca-fe0435ff

## Summary

### Background

The case involves an appeal against two impugned orders passed by the National Company Law Tribunal (NCLT), New Delhi, in an insolvency proceeding (IB-179/ND/2019). The appellant, Mr. Jai Kishan Gupta, Director of the suspended board of Aadhar Shri Infratech Private Ltd. (Corporate Debtor), filed the appeal. The initial application for insolvency was filed by Green Edge Buildtech LLP (Operational Creditor) under Section 9 of the IBC. Subsequently, a settlement was attempted, and an application for withdrawal of the insolvency proceedings was filed. The NCLT initially directed the IRP to ascertain objections from financial creditors before considering the withdrawal. Later, the NCLT noted that a Committee of Creditors (COC) had been constituted and directed the IRP to

…

## Facts

1. Green Edge Buildtech LLP (Operational Creditor) filed an application under Section 9 of the IBC against Aadhar Shri Infratech Private Ltd. (Corporate Debtor).
2. Mr. Jai Kishan Gupta, Director of the Corporate Debtor, filed an appeal against two orders of the NCLT.
3. The NCLT admitted the Section 9 application on 11.07.2019.
4. A settlement was attempted between the Operational Creditor and the Corporate Debtor, with post-dated cheques issued on 26.07.2019.
5. An application for withdrawal of the insolvency proceedings was filed on 13.07.2019.
6. The IRP, Mr. Prabhat Ranjan Singh, filed Form FA before the Adjudicating Authority, enclosing the settlement dated 26.07.2019.
7. The NCLT directed the IRP to ascertain objections from financial creditors regarding the

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority (NCLT) erred in directing the IRP to seek objections from …

**Ratio:** The Adjudicating Authority has the discretion to consider all relevant factors before

…

**Reasoning:** The tribunal reasoned that the Adjudicating Authority was justified in seeking input from

…

**Interpretation:** This highlights the Adjudicating Authority's role in balancing the interests of

…

**Application:** In this case, the Adjudicating Authority's decision to seek objections from

…

## Parties

- **Judges:** A.I.S. C…; Kanthi Na…; +2 more
- **Appellants:** Jai Kishan…
- **Respondents:** Aadhar Shri…; Green Edge…

## Timeline

- **2019-01-15 — Application under…**: Green Edge Buildtech Llp filed Application under Section 9 against the Respondent No.2…
- **2019-07-11 — Application A…**: The Application came to be…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/mr-jai-kishan-gupta-vs-green-edge-ors-ca-fe0435ff