# In the matter of Amrapali Infrastructure Pvt. Ltd. CP No. 184 (PB)-2017

> NCLT judgment dated 2017-09-25. Citation: TCN-2017-NCLT-00360. Tata Capital Financial Services Ltd. filed a petition under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 25 Sept 2017
- **Citation:** TCN-2017-NCLT-00360
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amrapali-infrastructure-pvt-ltd-cp-no-184-pb-2017-5aa6ea7f

## Summary

### Background

Tata Capital Financial Services Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming to be a 'Financial Creditor' with a 'financial debt' of Rs. 3,64,31,988/- recoverable as per their books of accounts. The amount was stated to be in default. However, another petition by Bank of Baroda against the same Corporate Debtor, Amrapali Infrastructure Private Limited, had already been admitted.

## Facts

Tata Capital Financial Services Ltd. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, claiming to be a 'Financial Creditor'. They asserted a 'financial debt' of Rs. 3,64,31,988/- which they claimed was recoverable as per their books of accounts and was in default. However, the court noted that another petition by Bank of Baroda against the same Corporate Debtor, Amrapali Infrastructure Private Limited, had already been admitted. This fact was crucial because the law does not allow multiple Corporate Insolvency Processes against the same corporate debtor simultaneously.

## Issues and analysis

### Issue 1: Whether a fresh Corporate Insolvency Resolution Process can be initiated against a corporate debtor …

**Ratio:** A Corporate Insolvency Process cannot be initiated against a corporate debtor undergoing

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**Reasoning:** The court reasoned that initiating another insolvency process against a corporate debtor

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**Interpretation:** The interpretation of the Insolvency and Bankruptcy Code is that once a

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**Application:** In this case, since Amrapali Infrastructure Private Limited was already

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## Parties

- **Judges:** M. M. K…; DeepaKr…
- **Appellants:** Tata Capital…
- **Respondents:** Amrapali Infrastru…

## Timeline

- **2016-01-01 — C.P. No. 1200/2…**: C.P. No. 1200/2016 was…
- **2017-01-01 — (IB)-161(ND)/2…**: (IB)-161(ND)/2017 was…

## 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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