# In the matter of Floram Shoes (India) Pvt. Ltd. IBA-646-2019

> NCLT judgment dated 2019-08-02. Citation: TCN-2019-NCLT-02118. The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 2 Aug 2019
- **Citation:** TCN-2019-NCLT-02118
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/floram-shoes-india-pvt-ltd-iba-646-2019-66859de4

## Summary

### Background

The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was initially admitted against the Corporate Debtor in IBA/579/2019.

## Facts

The State Bank of India filed an application (IBA/646/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Floram Shoes (India) Pvt Ltd. However, a similar application (IBA/579/2019) had already been admitted against the same Corporate Debtor. The court dismissed the subsequent application (IBA/646/2019) but allowed the Financial Creditor to make its claim before the IRP appointed in the earlier case (IBA/579/2019).

## Issues and analysis

### Issue 1: Whether the application IBA/646/2019 should be admitted when another application, IBA/579/2019, has …

**Ratio:** When an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 has

…

**Reasoning:** The court reasoned that since IBA/579/2019 had already been admitted, admitting

…

**Interpretation:** This interpretation emphasizes the need to avoid multiple parallel insolvency

…

**Application:** In this case, since IBA/579/2019 was already admitted against Floram Shoes

…

## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** State Bank of…
- **Respondents:** FLORAM SHOES…

## Timeline

- **2019-08-02 — Hearing…**: Hearing of the Chennai Bench, Chennai…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/floram-shoes-india-pvt-ltd-iba-646-2019-66859de4