# In the matter of Amiprabhu developers Pvt. Ltd. (IB)-106(PB)-2019

> NCLT judgment dated 2019-03-28. Citation: TCN-2019-NCLT-04287. The case involves a petition filed by Paisalo Digital Ltd. (financial creditor) against…

- **Court:** NCLT
- **Order date:** 28 Mar 2019
- **Citation:** TCN-2019-NCLT-04287
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amiprabhu-developers-pvt-ltd-ib-106pb-2019-dddb3304

## Summary

### Background

The case involves a petition filed by Paisalo Digital Ltd. (financial creditor) against Amiprabhu Developers Pvt. Ltd. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code. Another petition against the principal debtor, Prabhu Shanti Real Estate Pvt. Ltd., had already been admitted. The present petition is against the corporate guarantor.

## Facts

Paisalo Digital Ltd. filed a petition against Amiprabhu Developers Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code. Amiprabhu Developers Pvt. Ltd. is the corporate guarantor. Previously, a petition against Prabhu Shanti Real Estate Pvt. Ltd., the principal debtor, had already been admitted. The Hon'ble Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 347/2018 decided on 08.01.2019, that a second petition for the same claim and default is not maintainable. The court considered this prior order and the fact that a petition against the principal debtor was already admitted.

## Issues and analysis

### Issue 1: Whether a second application under Section 7 of the Insolvency and Bankruptcy Code is maintainable …

**Ratio:** Once an application under Section 7 filed by the financial creditor is admitted against

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**Reasoning:** The court relied on the principle that allowing a second application for the same claim

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**Interpretation:** The interpretation of Section 7 and related provisions of the Insolvency and

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**Application:** In this case, since a petition against the principal debtor, Prabhu Shanti Real

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## Parties

- **Judges:** M. M. K…; S. K. MOH…
- **Appellants:** Paisalo Digital…
- **Respondents:** Amiprabhu…
- **Advocates:** P. Na…; Harshal…; +4 more

## Timeline

- **2018-06-13 — Admission of…**: A petition against Prabhu Shanti…
- **2019-01-08 — Appellate Tribu…**: The Hon'ble Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 347/2018 decided…

## 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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