# In the matter of Marveledge Realtors Pvt. Ltd. M.A. 457-MB-2020 in C.P. (IB)-4534(MB)-2019

> NCLT judgment dated 2021-07-07. Citation: TCN-2021-NCLT-01825. The case pertains to C.P.(IB)-4534(MB)/2019 filed by a single home buyer before the National…

- **Court:** NCLT
- **Order date:** 7 Jul 2021
- **Citation:** TCN-2021-NCLT-01825
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/marveledge-realtors-pvt-ltd-ma-457-mb-2020-in-cp-ib-4534mb-2019-6c95c436

## Summary

### Background

The case pertains to C.P.(IB)-4534(MB)/2019 filed by a single home buyer before the National Company Law Tribunal (NCLT), Mumbai Bench. The counsel for the petitioner was present, but there was no representation on behalf of the Corporate Debtor.

## Facts

A case, C.P.(IB)-4534(MB)/2019, was filed by a single home buyer. The petitioner's counsel was present during the hearing. However, the Corporate Debtor had no representation. The NCLT Bench noted that the application was filed by a single home buyer and, according to the provisions of the Code, it did not meet the required threshold limit. Consequently, the application was dismissed.

## Issues and analysis

### Issue 1: Whether the application C.P.(IB)-4534(MB)/2019 filed by a single home buyer is maintainable under …

**Ratio:** The legal principle applied is that an application filed under the Insolvency and

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**Reasoning:** The court reasoned that since the application was filed by a single home buyer and did

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**Interpretation:** The interpretation of the law is that the IBC requires a certain threshold of

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**Application:** In this specific case, the application filed by the single home buyer did not

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## Parties

- **Judges:** SH. CHANDRA BHAN…; SUCHITRAKAN…
- **Appellants:** Mustafa Kan…
- **Respondents:** Marveledge…

## Timeline

- **2021-07-07 — Hearing of Mumbai Bench…**: Hearing was held for C.P.(IB)-4534(MB)/2…
- **N/A — Filing of C.P.(IB)-4534(…**: C.P.(IB)-4534(MB)/2019 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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