# In the matter of Ireo Residences Company Pvt. Ltd. IB-635(ND)-2020

> NCLT judgment dated 2021-10-22. Citation: TCN-2021-NCLT-00716. The case involves an intervention application filed under Section 60(5) of the IB Code 2016,…

- **Court:** NCLT
- **Order date:** 22 Oct 2021
- **Citation:** TCN-2021-NCLT-00716
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ireo-residences-company-pvt-ltd-ib-635nd-2020-d2bc461e

## Summary

### Background

The case involves an intervention application filed under Section 60(5) of the IB Code 2016, read with Rule 11 of NCLT Rules, 2016. The Tribunal considered the contents of the intervention application and prayers made.

## Facts

An intervention application was filed under Section 60(5) of the IB Code 2016, read with Rule 11 of NCLT Rules, 2016. The Tribunal reviewed the application and its prayers. The Tribunal noted that similar applications had been filed and withdrawn previously. The counsel requested to withdraw the application. The main matter is scheduled for arguments on November 22, 2021. Failure of the Corporate Debtor's counsel to appear may result in closure of their opportunity to argue.

## Issues and analysis

### Issue 1: Whether the intervention application requires …

**Ratio:** The Tribunal has the discretion to determine whether an intervention application requires

…

**Reasoning:** The Tribunal found that the intervention application did not require consideration at

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**Interpretation:** This indicates that the Tribunal is exercising its discretion to manage the

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**Application:** The Tribunal applied this principle to the specific facts of the case, finding

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## Parties

- **Judges:** P.S.N. P…; RAHUL BHA…
- **Appellants:** Abhishek…
- **Respondents:** M/s. Ireo…
- **Advocates:** Aditya Pa…; Aditi S…; +4 more

## Timeline

- **2021-10-22 — Order Del…**: Order delivered on the…
- **2021-11-22 — Next Hearin…**: Main matter posted for…

## 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)

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