# In the matter of Alliance Lumiere Limited Company Petition No. (IB)-1573(ND)-2019

> NCLT judgment dated 5 Sept 2019. Citation: TCN-2019-NCLT-01550. The corporate debtor filed a petition under Section 10 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 5 Sept 2019
- **Citation:** TCN-2019-NCLT-01550
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/alliance-lumiere-limited-company-petition-no-ib-1573nd-2019-1d602168

## Summary

### Background

The corporate debtor filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate its Corporate Insolvency Resolution Process due to its inability to liquidate outstanding debts and meet financial obligations.

## Facts

M/s Alliance Lumiere Limited, the corporate applicant, was incorporated on October 17, 2007, under the Companies Act, 1956. The company is engaged in the business of acquiring rights to international films and monetizing them through various distribution channels, including television, theatrical release, and home video. Its registered office is in New Delhi, within the territorial jurisdiction of the Tribunal.

…

## Issues and analysis

### Issue 1: Whether the application filed by the corporate debtor under Section 10 of the Insolvency and…

**Ratio:** An application under Section 10 of the Insolvency and Bankruptcy Code, 2016, must be…

**Reasoning:** The Tribunal found that a default had occurred, and the application under Section 10 was…

**Interpretation:** The Tribunal interpreted Section 10 (4) (a) as a mandatory provision requiring…

**Application:** Given the corporate debtor's admitted default, the submission of audited…

## Parties

- **Judges:** Ina Mal…; L. N. G…

## Timeline

- **October 17, 2007 — Incorporation of…**: M/s Alliance Lumiere Limited was…
- **September 26, 2012 — Loan Agreeme…**: The corporate applicant took a…

---

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/nclt-chandigarh/alliance-lumiere-limited-company-petition-no-ib-1573nd-2019-1d602168