# In the matter of Dreamz Infra India Ltd. CP (IB) No. 84-BB-2019

> NCLT judgment dated 2021-03-08. Citation: TCN-2021-NCLT-02789. The case pertains to CP(IB) No. 84/BB/2019, involving M/s Pratap Chandra Pandhy & Ors as the…

- **Court:** NCLT
- **Order date:** 8 Mar 2021
- **Citation:** TCN-2021-NCLT-02789
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dreamz-infra-india-ltd-cp-ib-no-84-bb-2019-0384749e

## Summary

### Background

The case pertains to CP(IB) No. 84/BB/2019, involving M/s Pratap Chandra Pandhy & Ors as the petitioner and M/s Dreamz Infra India Ltd as the respondent. The matter was initially under consideration of NCLAT order related to Section 7 of the I&B Code, 2016, concerning CIRP. An appeal, C.A. (AT) (Ins) No.34 of 2020, was preferred against the impugned order dated 17.12.2019. The NCLAT, vide its order dated 13.01.2021, set aside the impugned order and remitted the matter back to the Adjudicating Authority.

## Facts

M/s Pratap Chandra Pandhy & Ors initiated a corporate insolvency resolution process (CIRP) against M/s Dreamz Infra India Ltd under Section 7 of the I&B Code, 2016. The NCLAT order was under consideration. An appeal was filed against the order dated 17.12.2019. The NCLAT set aside the order dated 17.12.2019 and remitted the matter back to the Adjudicating Authority. Shri Hari T Devadiga was recognized as the Authorised Representative of the class of Financial Creditors (home or shop buyers). The court appointed Shri Konduru Prasanth Raju as the new Resolution Professional (RP) in place of Ashok Kriplani. The legality of actions taken by the previous Resolution Professionals during the period between the impugned orders was protected.

## Issues and analysis

### Issue 1: Whether the impugned order dated 17.12.2019 passed in I.A.No.659 and 670 of 2019 in …

**Ratio:** The NCLAT has the power to set aside orders if they are found to be not in accordance

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**Reasoning:** The NCLAT considered the matter and found it appropriate to set aside the impugned order

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**Interpretation:** This implies that the NCLAT found deficiencies or irregularities in the initial

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**Application:** The NCLAT's decision to set aside the order means that the previous order is no

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## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Appellants:** M/s Pratap…
- **Respondents:** M/s Dreamz Infra…
- **Advocates:** Pratap Chandra…; Ashok Kum…; +4 more

## Timeline

- **2019-12-17 — Impugned…**: Order passed in I.A.No.659 and 670…
- **2021-01-13 — NCLAT Or…**: NCLAT set aside the impugned order and remitted the matter back to the Adjudicating…

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