# In the matter of Anuj Jain Interim Resolution Professional In the matter of Jaypee Infratech Ltd. Company Applicaiton No.225-2018 In Company Petition No.(IB)77-ALD-2017

> NCLT judgment dated 2018-12-10. Citation: TCN-2018-NCLT-00130. The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application under…

- **Court:** NCLT
- **Order date:** 10 Dec 2018
- **Citation:** TCN-2018-NCLT-00130
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anuj-jain-interim-resolution-professional-in-the-matter-of-jaypee-infratech-ltd-a9d32550

## Summary

### Background

The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions regarding compliance with Regulation 13(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The IRP sought permission to display the unique code of allottees of real estate projects of the Corporate Debtor on the website instead of their names, citing concerns about privacy. IDBI Bank, representing the Committee of Creditors (COC), opposed this, arguing that Regulation 13 mandates the publication of the names of creditors and that non-disclosure would circumvent the regulations and violate a Supreme Court order. Nine Home Buyers

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## Facts

The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application seeking permission to display unique codes instead of the names of allottees (home buyers) on the corporate debtor's website, citing concerns about privacy. This request was made in the context of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The IRP's application was opposed by IDBI Bank, representing the Committee of Creditors (COC), and by Nine Home Buyers Associations. The COC and the Home Buyers Associations argued that Regulation 13(2) of the CIRP Regulations mandates the publication of the names of creditors, including the allottees, to ensure transparency and facilitate the resolution process. They also contended that

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## Issues and analysis

### Issue 1: Whether the IRP can display unique codes of allottees of real estate projects of the Corporate …

**Ratio:** Regulation 13(2) of the CIRP Regulations mandates that the list of creditors shall be

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**Reasoning:** The court reasoned that Regulation 13(2) is a mandatory provision and that the IRP is

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**Interpretation:** Regulation 13(2) is interpreted as a mandatory requirement to ensure

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**Application:** The court applied the ratio to the facts of the case, holding that the IRP must

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## Parties

- **Judges:** BIKKI RAVEENDRA…; Saroj Ra…
- **Appellants:** Anuj Jain,…
- **Respondents:** Jaypee Infratech…; IDBI Bank…

## Timeline

- **2017-01-01 — Company Petiti…**: Company Petition No.(IB)77/ALD/2017 was filed under Section 60(5) of the Insolvency and…
- **2018-08-09 — Supreme Cour…**: Order of Hon'ble Supreme Court of India vide order dated 09.08.2018 passed in Writ…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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