# In the matter of IDBI Bank Limited & Anrs Vs Mr. Anuj Jain & Ors IA No 217-2018 in CP No. (IB) 77-ALD-2017 (In the matter of Jaypee Infratech Ltd.)

> NCLT judgment dated 2018-12-10. Citation: TCN-2018-NCLT-00129. The case involves a dispute regarding the insolvency commencement date for Jaypee Infratech…

- **Court:** NCLT
- **Order date:** 10 Dec 2018
- **Citation:** TCN-2018-NCLT-00129
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/idbi-bank-limited-anrs-vs-mr-anuj-jain-ors-ia-no-217-2018-in-cp-no-f2f81226

## Summary

### Background

The case involves a dispute regarding the insolvency commencement date for Jaypee Infratech Limited (JIL). The initial Corporate Insolvency Resolution Process (CIRP) was triggered by IDBI Bank Limited. Home buyers filed Writ Petition (Civil) No.744 of 2017 before the Supreme Court of India. The Supreme Court directed re-commencement of the CIRP of JIL. The core issue revolves around whether the insolvency commencement date should be the initial date (August 9, 2017) or the date of the Supreme Court's order (August 9, 2018), which directed the CIRP's re-commencement. The applicants argue that the date should be August 9, 2018, allowing for fresh claims to be filed, while the IRP contends it should remain August 9, 2017.

## Facts

1. IDBI Bank Limited filed CP NO.(IB)77/ALD/2017 to initiate Corporate Insolvency Resolution Process (CIRP) against Jaypee Infratech Limited (JIL).
2. The petition was admitted on August 9, 2017, and Mr. Anuj Jain was appointed as the Interim Resolution Professional (IRP).
3. Home buyers filed Writ Petition (Civil) No.744 of 2017 before the Supreme Court of India.
4. The Supreme Court, in its order dated August 9, 2018, directed the re-commencement of the CIRP of JIL.
5. Financial creditors filed an application (IA No.217 of 2018) seeking a declaration that the insolvency commencement date should be August 9, 2018, the date of the Supreme Court's order.
6. The applicants argued that the re-commencement of the CIRP necessitates a fresh start, including the invitation of

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## Issues and analysis

### Issue 1: Whether the insolvency commencement date for Jaypee Infratech Limited (JIL) should be August 9, …

**Ratio:** The insolvency commencement date is defined in Section 5(12) of the Insolvency and

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**Reasoning:** The Adjudicating Authority reasoned that the Supreme Court's order only directed the

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**Interpretation:** The interpretation of Section 5(12) of the IBC is central to the issue. The

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**Application:** In this case, the Adjudicating Authority had appointed the IRP in the admission

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## Parties

- **Judges:** BIKKI RAVEENDRA…; Saroj Ra…
- **Appellants:** IDBI Bank L…
- **Respondents:** Jaypee Infratech…; Anuj…

## Timeline

- **2017-08-09 — Admission of CIRP…**: The Adjudicating Authority admitted the petition filed by IDBI Bank Limited and initiated…
- **2017-01-01 — Writ Petitio…**: Home buyers filed Writ Petition (Civil) No.744…

## 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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