# In the matter of India Sports Flashes Private Limited (IB)-510-ND-2020

> NCLT judgment dated 2021-08-11. Citation: TCN-2021-NCLT-01364. The case involves an application by Satguru Holidays (India) Private Limited against M/S India…

- **Court:** NCLT
- **Order date:** 11 Aug 2021
- **Citation:** TCN-2021-NCLT-01364
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/india-sports-flashes-private-limited-ib-510-nd-2020-6a285b43

## Summary

### Background

The case involves an application by Satguru Holidays (India) Private Limited against M/S India Sports Flashes Private Limited under Section 9 of the Insolvency & Bankruptcy Code. C.P. No. (IB)-460(ND)/2020 against the same corporate debtor, M/S India Sports Flashes Private Limited, has already been admitted on 11.08.2021, and the Corporate Insolvency Resolution Process (CIRP) is in progress.

## Facts

Satguru Holidays (India) Private Limited filed an application against M/S India Sports Flashes Private Limited under Section 9 of the Insolvency & Bankruptcy Code. A prior application, C.P. No. (IB)-460(ND)/2020, against the same corporate debtor, M/S India Sports Flashes Private Limited, had already been admitted on August 11, 2021, and the CIRP was in progress. The applicant is now directed to file their claim before the IRP. The court also addresses the scenario where the order dated 11.08.2021 is set aside by a higher court, granting the applicant liberty to revive their application.

## Issues and analysis

### Issue 1: Whether the applicant should be directed to file their claim before the IRP given the ongoing CIRP …

**Ratio:** The principle is that when a CIRP has already been initiated and is in progress,

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**Reasoning:** The court reasoned that since the CIRP against M/S India Sports Flashes Private Limited

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**Interpretation:** This interprets the IBC to mean that once CIRP is initiated, all claims against

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**Application:** The court applied this principle by directing Satguru Holidays (India) Private

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## Parties

- **Judges:** DEEPTI M…; SUMITAPURKA…
- **Appellants:** Satguru Holidays…
- **Respondents:** M/S INDIA SPORTS…

## Timeline

- **2021-08-11 — Admission o…**: C.P. No. (IB)-460(ND)/2020 against M/S India Sports Flashes Private Limited was admitted,…
- **2021-08-11 — Order Del…**: The court delivered an order directing the applicant to file their claim before the IRP…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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