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

> NCLT judgment dated 2019-09-20. Citation: TCN-2019-NCLT-01353. The case involves M/s. Lavis Signature Panel Pvt. Ltd. V/s. M/s. Nikunj Woods Pvt. Ltd. The…

- **Court:** NCLT
- **Order date:** 20 Sept 2019
- **Citation:** TCN-2019-NCLT-01353
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nikunj-woods-pvt-ltd-ib-1286nd2019-a9a3603e

## Summary

### Background

The case involves M/s. Lavis Signature Panel Pvt. Ltd. V/s. M/s. Nikunj Woods Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) had been initiated against M/s. Nikunj Woods Pvt. Ltd. The Hon'ble Appellate Authority set aside the order of admission.

## 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) was initiated against M/s. Nikunj Woods Pvt. Ltd. However, the Hon'ble Appellate Authority, in its order dated 2019-09-13, set aside the order of admission, effectively terminating the CIRP. The decision to terminate the CIRP was based on the decision of the Hon'ble NCLAT. The Ld. Counsel for the IRP placed the NCLAT order on record.

## Issues and analysis

### Issue 1: Whether the order of admission for Corporate Insolvency Resolution Process against M/s. Nikunj …

**Ratio:** The Hon'ble Appellate Authority has the power to set aside an order of admission if it

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**Reasoning:** The Hon'ble Appellate Authority was pleased

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**Interpretation:** This implies that the Appellate Authority reviewed the initial order of

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**Application:** The Hon'ble Appellate Authority reviewed the case and determined that the order

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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 — Order Da…**: Hon'ble Appellate Authority set aside the order of admission in Company Appeal (AT)…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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