# In the matter of Vipul Ltd. Vs. Vipul Greens Residents Welfare Association CA(AT)(Ins) No. 21 of 2020

> NCLAT judgment dated 2020-01-08. Citation: TCN-2020-NCLAT-00559. The case involves an appeal against an order passed by the Adjudicating Authority (National…

- **Court:** NCLAT
- **Order date:** 8 Jan 2020
- **Citation:** TCN-2020-NCLAT-00559
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vipul-ltd-vs-vipul-greens-residents-welfare-association-ca-f0f7f3fc

## Summary

### Background

The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which directed the Appellant, Vipul Limited, to provide certain details regarding maintenance amounts outstanding from allottees. The application was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority directed Vipul Limited to provide details of the maintenance amount outstanding in respect of 384 allottees who are members of the RWA/Applicant, including separate details of those not in default, and the outstanding liability as per actuals without interest or penalty.

## Facts

Vipul Limited, an infrastructure company, faced an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by M/s. Vipul Greens Residents Welfare Associates, alleging non-transfer of 'Interest Bearing Maintenance Security Deposit' (IBMS). The Adjudicating Authority (National Company Law Tribunal) directed Vipul Limited to provide details of maintenance amounts outstanding from 384 allottees, including separate details of those not in default. The Adjudicating Authority's order was challenged by Vipul Limited. The Respondent argued that the Corporate Debtor was using dilatory tactics. The Supreme Court's decision in 'Innoventive Industries Ltd. v. ICICI Bank' was cited regarding the process under Section 7. An ordinance amending the IBC was

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority exceeded its jurisdiction by directing the Corporate Debtor to …

**Ratio:** The Adjudicating Authority's jurisdiction before admitting an application under Section 7

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**Reasoning:** The court reasoned that before admitting the application under Section 7, the

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**Interpretation:** This interprets the scope of the Adjudicating Authority's powers before

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**Application:** In this case, the Adjudicating Authority exceeded its jurisdiction by directing

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…
- **Appellants:** Vipul…
- **Respondents:** VIPUL LI…; M/S VIPUL GREENS…
- **Advocates:** Sudhanshu…; Saroj…; +4 more

## Timeline

- **2020-01-08 — Appeal F…**: The Appellant- ‘Vipul Limited', an Infrastructure Company, has challenged the order dated…
- **2019-11-15 — Impugned…**: The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, passed an…

## 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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