# In the matter of Guman Builders & Developers Pvt. Ltd. CP No. (IB)-25-7-JPR-2020

> NCLT judgment dated 2021-07-13. Citation: TCN-2021-NCLT-01762. The case pertains to the matter of Smt. Padma Mishra versus Guman Builders & Developers Pvt.…

- **Court:** NCLT
- **Order date:** 13 Jul 2021
- **Citation:** TCN-2021-NCLT-01762
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/guman-builders-developers-pvt-ltd-cp-no-ib-25-7-jpr-2020-0ca9c0ba

## Summary

### Background

The case pertains to the matter of Smt. Padma Mishra versus Guman Builders & Developers Pvt. Ltd. It was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The matter concerns home buyers and is covered by the judgment of the Supreme Court in Manish Kumar Vs. Union of India (UOI) and Ors. Writ Petition (C) No. 26/2020 dated 19.01.2021.

## Facts

Smt. Padma Mishra, the financial creditor, filed a Corporate Insolvency Resolution Process (CIRP) application against Guman Builders & Developers Pvt. Ltd., the corporate debtor, under Section 7 of the IBC, 2016. The corporate debtor did not appear for the proceedings. The case pertains to home buyers and is covered by the judgment of the Hon'ble Supreme Court in Manish Kumar Vs. Union of India (UOI) and Ors. Writ Petition (C) No. 26/2020 dated 19.01.2021. The CP was dismissed by the NCLT Jaipur bench.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) application filed by the financial …

**Ratio:** The ratio is based on the Supreme Court's judgment in Manish Kumar Vs. Union of India

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**Reasoning:** The court's reasoning is based on the applicability of the Supreme Court's judgment to

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**Interpretation:** The interpretation involves understanding the implications of the Supreme

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**Application:** The application involves applying the principles established in the Supreme

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## Parties

- **Judges:** Ajay Kumar…; RAGHU N…; +1 more
- **Appellants:** Padma M…
- **Respondents:** Guman Builders &…

## Timeline

- **2020-07-01 — CP Filed…**: CP No. (IB)- 25/7/JPR/20…
- **2021-01-19 — Supreme Court…**: Reference to Hon'ble Supreme Court in Manish Kumar Vs. Union of India (UOI) and Ors. Writ…

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