# In the matter of Bhattad Brothers Realty Pvt. Ltd. C.P.(IB)1311-(MB)-2018

> NCLT judgment dated 2019-09-05. Citation: TCN-2019-NCLT-01552. The case pertains to C.P.(IB)1311/(MB)/2018 before the Mumbai Bench of the National Company Law…

- **Court:** NCLT
- **Order date:** 5 Sept 2019
- **Citation:** TCN-2019-NCLT-01552
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bhattad-brothers-realty-pvt-ltd-cpib1311-mb-2018-9a71a3f7

## Summary

### Background

The case pertains to C.P.(IB)1311/(MB)/2018 before the Mumbai Bench of the National Company Law Tribunal. The hearing took place on September 5, 2019. The matter involves Turnekey Infrastructure Pvt Ltd as the applicant and Bhattad Brother Realty Pvt Ltd.

## Facts

Turnekey Infrastructure Pvt Ltd filed a petition against Bhattad Brother Realty Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case, C.P.(IB)1311/(MB)/2018, was heard by the Mumbai Bench of the National Company Law Tribunal on September 5, 2019. After hearing the arguments of the parties' counsel, the tribunal admitted the petition and appointed Mr. Shashi Agarwal as the Interim Resolution Professional (IRP). Mr. Agarwal's registration number is IBBI/IPA-001/IP-P00470/2017-18/10813. A detailed judgment is to follow.

## Issues and analysis

### Issue 1: Whether the petition filed by Turnekey Infrastructure Pvt Ltd against Bhattad Brother Realty Pvt …

**Ratio:** Section 7 of the Insolvency and Bankruptcy Code, 2016 allows for the initiation of the

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**Reasoning:** The tribunal heard the arguments of the Ld. Counsel for the parties and found sufficient

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**Interpretation:** Section 7 provides the mechanism for a financial creditor to initiate

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**Application:** The tribunal applied Section 7 to the facts presented by Turnekey

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## Parties

- **Judges:** V. P. S…; RAJESH S…
- **Appellants:** Turnekey Infrastru…
- **Respondents:** Bhattad Brother…

## Timeline

- **2019-09-05 — Hearing…**: Hearing of Mumbai Bench of the…
- **N/A — Petition Ad…**: The petition filed by Turnekey…

## 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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