# In the matter of OYO Hotels and Homes Pvt. Ltd. IA No. 508 of 2021 in CP(IB) No. 272 of 2020

> NCLT judgment dated 2021-08-17. Citation: TCN-2021-NCLT-01310. The applicant, Madhu Chaudhry, filed an application seeking the revival of Company Petition…

- **Court:** NCLT
- **Order date:** 17 Aug 2021
- **Citation:** TCN-2021-NCLT-01310
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/oyo-hotels-and-homes-pvt-ltd-ia-no-508-of-2021-in-cpib-no-272-of-2020-ad01867e

## Summary

### Background

The applicant, Madhu Chaudhry, filed an application seeking the revival of Company Petition (IB) No. 272/NCLT/AHM/2020 under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating CIRP against the Corporate Debtor, OYO Hotels And Homes Pvt. Ltd. The application was initially dismissed on 31.03.2021 because another petition, CP(IB) No. 40 of 2020, against the same Corporate Debtor was already admitted. The NCLAT later quashed the CIRP initiation in CP(IB) No. 40 of 2020 due to settlement and payment of defaulted debt between the parties.

## Facts

Madhu Chaudhry, the applicant and operational creditor, filed Company Petition (IB) No. 272/NCLT/AHM/2020 under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate CIRP against OYO Hotels And Homes Pvt. Ltd., the corporate debtor. The application was initially dismissed on 31.03.2021 because CP(IB) No. 40 of 2020 against the same corporate debtor was already admitted. Subsequently, the NCLAT quashed the CIRP in CP(IB) No. 40 of 2020 on 07.07.2021 due to a settlement and payment of the defaulted debt. The applicant then filed IA No. 508 of 2021 seeking the revival of CP(IB) No. 272 of 2020, claiming an outstanding amount of Rs. 1,53,85,851/- against the corporate debtor. The applicant also filed an Intervention Application, I.A No. 941 of 2021, in

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## Issues and analysis

### Issue 1: Whether the Company Petition (IB) No. 272/NCLT/AHM/2020 should be revived after the CIRP initiated …

**Ratio:** When the basis for dismissing a petition ceases to exist, the petition can be revived to

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**Reasoning:** The court reasoned that the initial dismissal of CP(IB) No. 272 of 2020 was predicated on

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**Interpretation:** This case interprets the principle that a legal impediment, once removed,

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where

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## Parties

- **Judges:** Madan B.…; Chockalingam…
- **Appellants:** Madhu Chaudhry…
- **Respondents:** Oyo Hotel & Homes…

## Timeline

- **2021-03-31 — Initial Dismissal of…**: The Adjudicating Authority dismissed the application under Section 9 bearing CP(IB) No.…
- **2021-07-07 — NCLAT Or…**: The Hon'ble Appellate Authority (NCLAT) quashed the initiation of CIRP of the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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