# In the matter of GRJ Distributors & Developers Private Limited IB-1066(ND)-2020

> NCLT judgment dated 2021-12-09. Citation: TCN-2021-NCLT-00211. The case involves a petition before the National Company Law Tribunal (NCLT), New Delhi. The…

- **Court:** NCLT
- **Order date:** 9 Dec 2021
- **Citation:** TCN-2021-NCLT-00211
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/grj-distributors-developers-private-limited-ib-1066nd-2020-152b6001

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), New Delhi. The applicant/petitioner is Devinder Yadav & Ors, and the respondent is GRJ Distributors and Developers Private Limited. The matter pertains to Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Both counsels have presented detailed arguments regarding the petition, and the relevant documents, including the petition and rejoinder, have been reviewed. The counsel for the Corporate Debtor has yet to complete their arguments.

## Facts

Devinder Yadav & Ors filed a petition against GRJ Distributors and Developers Private Limited under Section 7 of the IBC, 2016. Both the applicant's and the corporate debtor's counsels presented detailed arguments. The tribunal reviewed the relevant documents, including the petition and rejoinder. The corporate debtor's counsel has not yet completed their arguments. The matter was treated as part-heard and adjourned for further hearing on 14.12.2021.

## Issues and analysis

### Issue 1: Whether the petition filed by Devinder Yadav & Ors under Section 7 of the IBC, 2016, should be …

**Ratio:** Section 7 of the IBC, 2016 allows a financial creditor to initiate a corporate insolvency

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**Reasoning:** The tribunal must determine whether a default has occurred and whether the application is

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**Interpretation:** Section 7 provides the mechanism for creditors to initiate insolvency

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**Application:** The tribunal will apply the provisions of Section 7 to the facts presented in

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## Parties

- **Judges:** BACHU VENKAT…; NARENDER…
- **Appellants:** Devinder Yadav &…
- **Respondents:** GRJ Distributors…

## Timeline

- **2021-12-09 — Order Del…**: Order delivered regarding the petition…
- **2021-12-14 — Next Hearin…**: The matter is listed for further hearing on 14.12.2021 for completion of arguments by the…

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