# In the matter of Earth Infrastructure Limited I.A. No. 1311-2021 in IB-401(ND)-2017

> NCLT judgment dated 2021-07-23. Citation: TCN-2021-NCLT-01625. The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 23 Jul 2021
- **Citation:** TCN-2021-NCLT-01625
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/earth-infrastructure-limited-ia-no-1311-2021-in-ib-401nd-2017-6e9e5093

## Summary

### Background

The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The applicants are allottees of residential units in the "Earth Copia" project, against which the Hon'ble NCDRC has passed an order of refund in their favor and against the Corporate Debtor, Earth Infrastructure Limited. The applicants are seeking a direction for the Corporate Debtor/Earth Infrastructure Pvt. Ltd. to refund the admitted claim along with interest till the date of final payment in compliance with the decree in favor of the Applicants, and to direct the Resolution Applicants to refund the admitted claim along with interest till the date of final payment in compliance of the decree in favor of the

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## Facts

1. The applicants are allottees of residential units in the "Earth Copia" project.
2. The Hon'ble NCDRC has passed an order of refund in favor of the Applicants and against the Corporate Debtor, Earth Infrastructure Limited.
3. The applicants filed a consumer complaint before the Hon'ble NCDRC, which passed a decree for refund of the amount invested along with compensation in the form of simple interest @10% p.a.
4. During the pendency of the execution petition, the corporate insolvency proceeding against the Corporate Debtor was initiated, and a moratorium came into force as per section 14 of IBC.
5. The applicants submitted their claim in Form C before the IRP and RP admitted an amount of Rs.1,65,49,410/-, 1,22,73,115/- and Rs.91,99,797/- of the respective

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## Issues and analysis

### Issue 1: Whether the applicants, being decree holders from NCDRC, are entitled to receive full decretal …

**Ratio:** The ratio is based on the principle that a dissenting financial creditor cannot be forced

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**Reasoning:** The court reasoned that the applicants, as successful decree holders, have a right to

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**Interpretation:** This legal issue concerns the interpretation of the IBC in relation to the

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**Application:** The ratio and reasoning were applied to the specific facts of the case by

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## Parties

- **Judges:** P.S.N. P…; Narender Kumar…
- **Appellants:** Girwar Singh…
- **Respondents:** Earth Infrastructu…; Earth Infrastructu…

## Timeline

- **2016-01-01 — Insolvency and…**: The Insolvency and…
- **2017-01-01 — Initiation…**: Corporate Insolvency Resolution Process (CIRP) initiated against Earth Infrastructure…

## 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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