# In the matter of Nikunj Woods Pvt. Ltd. (IB)-1286(ND)2019

> NCLT judgment dated 2019-09-20. Citation: TCN-2019-NCLT-01359. The case involves M/s. Lavis Signature Panel Pvt. Ltd. V/s. M/s. Nikunj Woods Pvt. Ltd. before…

- **Court:** NCLT
- **Order date:** 20 Sept 2019
- **Citation:** TCN-2019-NCLT-01359
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nikunj-woods-pvt-ltd-ib-1286nd2019-a736eaaf

## Summary

### Background

The case involves M/s. Lavis Signature Panel Pvt. Ltd. V/s. M/s. Nikunj Woods Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. The Hon'ble NCLAT in Company Appeal (AT) Insolvency No. 847/19 had previously issued an order dated 13.09.2019, setting aside the order of admission whereby the Corporate Insolvency Resolution Process (CIRP) had been initiated against M/s. Nikunj Woods Pvt. Ltd.

## Facts

The case involves a dispute between M/s. Lavis Signature Panel Pvt. Ltd. and M/s. Nikunj Woods Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) had been initiated against M/s. Nikunj Woods Pvt. Ltd. However, the Hon'ble NCLAT, in Company Appeal (AT) Insolvency No. 847/19, issued an order dated 13.09.2019, setting aside the order of admission that initiated the CIRP. The NCLT acknowledged this decision and terminated the CIRP, closing the proceedings. The key fact is the NCLAT's reversal of the CIRP initiation, which directly led to the NCLT's decision to close the case.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) against M/s. Nikunj Woods Pvt. Ltd. …

**Ratio:** The decision of a higher appellate authority is binding on lower courts or tribunals.

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**Reasoning:** The NCLT acknowledged the NCLAT's order, which specifically set aside the order of

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**Interpretation:** This highlights the hierarchical structure of the legal system, where appellate

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**Application:** Since the NCLAT had already set aside the order of admission, the NCLT applied

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## Parties

- **Judges:** L. N. G…; Ina Mal…
- **Respondents:** Nikunj Woods Pvt…; Rajiv K…

## Timeline

- **2019-09-20 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-09-13 — NCLAT Or…**: Hon'ble NCLAT order setting aside the order of admission for Corporate Insolvency…

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