# In the matter of KSS Petron Pvt. Ltd. T.C.P. No. 947-(MAH)-2017

> NCLT judgment dated 2017-09-06. Citation: TCN-2017-NCLT-00468. The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The…

- **Court:** NCLT
- **Order date:** 6 Sept 2017
- **Citation:** TCN-2017-NCLT-00468
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/kss-petron-pvt-ltd-tcp-no-947-mah-2017-101fb33d

## Summary

### Background

The case involves a petition before the National Company Law Tribunal (NCLT), Mumbai Bench. The Petitioner Counsel and the Corporate Debtor Counsel reported that the petition could be disposed of with a direction to the Petitioner to make a claim before the Insolvency Resolution Professional (IRP) appointed in another case against the same Corporate Debtor.

## Facts

The Petitioner filed a Company Petition. The Petitioner Counsel and the Corporate Debtor Counsel agreed that the petition could be disposed of with a direction to the Petitioner to make a claim before the Insolvency Resolution Professional (IRP) already appointed in CP 1202/NCLT/MB/MAH/2017 against the same Corporate Debtor. An Insolvency Resolution Process had already been initiated against the Corporate Debtor. This existing process was the basis for the court's decision to dismiss the petition.

## Issues and analysis

### Issue 1: Whether the Company Petition should be dismissed in light of the existing Insolvency Resolution …

**Ratio:** When an Insolvency Resolution Process has already been initiated against a Corporate

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**Reasoning:** The court reasoned that since an Insolvency Resolution Process was already underway, it

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**Interpretation:** This legal issue concerns the prioritization of insolvency proceedings. The

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**Application:** The court applied this principle to the facts by dismissing the Company

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## Parties

- **Judges:** B.S.V. Prakash…; V. Nallasen…
- **Appellants:** Unik Constr…
- **Respondents:** KSS Petron Pvt.…

## Timeline

- **2017-09-06 — Hearing of Mumbai Bench…**: Hearing held by the National…

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