# In the matter of Dreamz Infra India Limited I.A. Nos. 659,660,661,662,668,669,670 & 675 of 2019 in C.P.(IB)No. 84-BB-2019

> NCLT judgment dated 2019-12-17. Citation: TCN-2019-NCLT-00146. The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against M/s.Dreamz…

- **Court:** NCLT
- **Order date:** 17 Dec 2019
- **Citation:** TCN-2019-NCLT-00146
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dreamz-infra-india-limited-ia-nos-659660661662668669670-675-of-2019-in-cpibno-84-3cfd5e63

## Summary

### Background

The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against M/s.Dreamz Infra India Limited. The CIRP was initiated based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. The Adjudicating Authority admitted the petition on August 20, 2019, appointed Ashok Kriplani as the Interim Resolution Professional (IRP), and imposed a moratorium. Several IAs were filed by the IRP seeking various directions and reliefs, including contributions from the Committee of Creditors (CoC), access to the Corporate Debtor's accounts, and appointment of an Authorised Representative (AR) for the homebuyers. The IRP faced challenges, including non-cooperation from the Corporate Debtor's

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## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s.Dreamz Infra India Limited based on a petition filed by Pratap Chandra Padhy and other homebuyers under Section 7 of the IBC, 2016, due to a default of Rs.40,06,625. Ashok Kriplani was appointed as the Interim Resolution Professional (IRP). The IRP faced several challenges, including non-cooperation from the Corporate Debtor's management, difficulties in collecting claims from a large number of scattered homebuyers (around 2003), and disagreements with the Committee of Creditors (CoC) regarding expenses and fees. The IRP filed several IAs seeking directions and reliefs, including contributions from the CoC, access to the Corporate Debtor's accounts, and appointment of an Authorised

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## Issues and analysis

### Issue 1: Whether the IAs filed by the IRP seeking various …

**Ratio:** The Adjudicating Authority has the power to issue directions and reliefs to facilitate

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**Reasoning:** The court considered the various challenges faced by the IRP in conducting the CIRP and

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**Interpretation:** The Adjudicating Authority has broad powers to intervene and issue orders to

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**Application:** The court disposed of the IAs, issuing directions to address the specific

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** CoC of M/s.Dreamz…
- **Respondents:** M/s.Dreamz Infra…; M/s.Dramz Infra…

## Timeline

- **2019-08-20 — Admission o…**: The Adjudicating Authority admitted the petition filed by Pratap Chandra Padhy and other…
- **2019-08-31 — IRP requests fo…**: The IRP wrote to the Original Applicants to extend the IRP finance of Rs.2,00,000/- as…

## 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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