# In the matter of AD Victoriam Ventures Pvt. Ltd. IB-2162-ND-2019

> NCLT judgment dated 2020-01-10. Citation: TCN-2020-NCLT-02392. The case involves Moksha Designs Pvt. Ltd. as the operational creditor and AD Victoriam…

- **Court:** NCLT
- **Order date:** 10 Jan 2020
- **Citation:** TCN-2020-NCLT-02392
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ad-victoriam-ventures-pvt-ltd-ib-2162-nd-2019-946b94cb

## Summary

### Background

The case involves Moksha Designs Pvt. Ltd. as the operational creditor and AD Victoriam Ventures Pvt. Ltd. as the corporate debtor. The corporate debtor is already undergoing a Corporate Insolvency Resolution Process (CIRP) as per an order dated November 21, 2019.

## Facts

Moksha Designs Pvt. Ltd. filed a petition against AD Victoriam Ventures Pvt. Ltd., the corporate debtor, as an operational creditor. The corporate debtor is already undergoing CIRP under an order dated November 21, 2019. The operational creditor was directed to file their claim with the IRP/RP within the stipulated time. The petition was disposed of, but the operational creditor was granted liberty to revive the petition if the corporate debtor enters into a compromise with other creditors or if the CIRP order is set aside in appeal. This ensures the operational creditor's claim can be considered within the existing CIRP framework, while also providing a contingency if the CIRP is altered or terminated.

## Issues and analysis

### Issue 1: Whether the operational creditor's petition should be entertained given that the corporate debtor …

**Ratio:** When a corporate debtor is already undergoing CIRP, new petitions for initiation of CIRP

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**Reasoning:** The court reasoned that since the corporate debtor was already under CIRP, the

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**Interpretation:** The interpretation is that the IBC aims to consolidate claims within a single

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**Application:** The court applied this principle by directing the operational creditor to file

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## Parties

- **Judges:** Ch. Mohd Sharief…; SUMITAPURKA…
- **Appellants:** Moksha Designs…
- **Respondents:** Ad Victoriam…
- **Advocates:** Somnyadee…; Manorath…; +1 more

## Timeline

- **2019-11-21 — Order for…**: Order passed to initiate Corporate Insolvency Resolution Process (CIRP) against the…
- **2020-01-10 — Order Del…**: Order delivered by the NCLT directing the Operational Creditor to file claim before…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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