# In the matter of Jainam Alternate Energy Pvt. Ltd. IA-74(MP)2021 in CP(IB) 22 of 2020

> NCLT judgment dated 2021-04-09. Citation: TCN-2021-NCLT-02411. The case involves an application (IA/74(MP)2021) filed in connection with a Corporate…

- **Court:** NCLT
- **Order date:** 9 Apr 2021
- **Citation:** TCN-2021-NCLT-02411
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jainam-alternate-energy-pvt-ltd-ia-74mp2021-in-cpib-22-of-2020-1535cac9

## Summary

### Background

The case involves an application (IA/74(MP)2021) filed in connection with a Corporate Insolvency Resolution Process (CIRP) under CP(IB) 22 of 2020 before the National Company Law Tribunal (NCLT), Indore Bench at Ahmedabad. The applicant/corporate debtor sought an injunction order upon the CIRP. However, the matter has been settled, and the operational creditor has received the amount due.

## Facts

Pravinkumar Jitendrakumar Jain is involved in a case with J.C. Enterprises Pvt. Ltd. An application, IA/74(MP)2021, was filed in CP(IB) 22 of 2020, seeking an injunction order upon the CIRP. The matter was settled out of court, with the operational creditor receiving the full amount due from the corporate debtor. Advocates for the operational creditor and the RP confirmed the settlement. Consequently, the applicant requested permission to withdraw the main petition, CP(IB) No. 22 of 2020. The NCLT allowed the withdrawal, dismissing the petition and freeing the corporate debtor from the CIRP. The RP was also discharged from their duties. The application was filed under Rule 11 of NCLT Rules.

## Issues and analysis

### Issue 1: Whether the instant application filed under Rule 11 of NCLT Rules should be allowed, considering …

**Ratio:** When a settlement is reached between the parties in a CIRP, and the operational creditor

…

**Reasoning:** The court considered the fact that the matter had been settled, and the operational

…

**Interpretation:** Rule 11 of NCLT Rules allows for applications to be filed. The interpretation

…

**Application:** Since the operational creditor received the full amount, the court applied the

…

## Parties

- **Judges:** Manorama…; Virendra Kumar…
- **Appellants:** Pravinkumar…
- **Respondents:** J.C. Enterprises…
- **Advocates:** Dhruvit K…; Manan K P…; +1 more

## Timeline

- **2020-01-01 — CP(IB) F…**: CP(IB) 22 of 2020 was…
- **2021-04-09 — Hearing…**: Hearing of Indore Bench of the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/jainam-alternate-energy-pvt-ltd-ia-74mp2021-in-cpib-22-of-2020-1535cac9