# In the matter of Keltech Infrastructure Ltd. (IB)-2663(PB)-2019

> NCLT judgment dated 2021-12-21. Citation: TCN-2021-NCLT-00086. The company petition was filed by a small number of homebuyers under Section 7 of the…

- **Court:** NCLT
- **Order date:** 21 Dec 2021
- **Citation:** TCN-2021-NCLT-00086
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/keltech-infrastructure-ltd-ib-2663pb-2019-761d6c0f

## Summary

### Background

The company petition was filed by a small number of homebuyers under Section 7 of the Insolvency & Bankruptcy Code, 2016, seeking to initiate corporate insolvency resolution process against Keltech Infrastructure Ltd.

## Facts

A company petition was filed by a small number of homebuyers against Keltech Infrastructure Ltd. This petition sought to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. The application was filed under Section 7 of the Insolvency & Bankruptcy Code, 2016, which allows financial creditors to initiate CIRP. The NCLT considered the maintainability of this petition.

## Issues and analysis

### Issue 1: Whether the company petition filed by a …

**Ratio:** A company petition filed by a small number of homebuyers is not maintainable in light of

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**Reasoning:** The NCLT referred to the Supreme Court's decision in Jaypee Kensington Boulevard

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**Interpretation:** The NCLT interpreted the Supreme Court's judgment as establishing a precedent

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**Application:** Applying the Supreme Court's precedent, the NCLT determined that the present

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## Parties

- **Judges:** Ramalingam…; HEMANT KUMAR…; +1 more
- **Appellants:** Kriti S…; Kriti Sharma &…
- **Respondents:** Keltech Infrastruc…
- **Advocates:** For the Applicant:…

## Timeline

- **December 21, 2021 — Order Pron…**: The order in the matter of Kriti Sharma & Anr. v. Keltech Infrastructure Ltd. was…

## 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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