# In the matter of Pradip Overseas Ltd. CP(IB) 287 of 2020

> NCLT judgment dated 2020-12-08. Citation: TCN-2020-NCLT-00131. The case pertains to CP(IB) 287 of 2020 before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 8 Dec 2020
- **Citation:** TCN-2020-NCLT-00131
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pradip-overseas-ltd-cpib-287-of-2020-972cd4b6

## Summary

### Background

The case pertains to CP(IB) 287 of 2020 before the National Company Law Tribunal (NCLT), Ahmedabad Bench. The Operational Creditor brought to the court's notice that a Corporate Insolvency Resolution Process (CIRP) had already been initiated against the same Corporate Debtor, Pradip Overseas Ltd., vide its order dated 09.11.2020 in CP(IB) No. 221/7/NCLT/AHM/2017.

## Facts

The Operational Creditor filed CP(IB) 287 of 2020 against Pradip Overseas Ltd. However, the Operational Creditor informed the court that a Corporate Insolvency Resolution Process (CIRP) had already been initiated against the same Corporate Debtor, Pradip Overseas Ltd., vide its order dated 09.11.2020 in CP(IB) No. 221/7/NCLT/AHM/2017. Given the existing CIRP, the court considered the present petition as infructuous. The Operational Creditor is at liberty to approach IRP/Resolution Professional to lodge its claim.

## Issues and analysis

### Issue 1: Whether the present IB Petition should be entertained when a CIRP has already been initiated …

**Ratio:** When a Corporate Insolvency Resolution Process (CIRP) has already been initiated against

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**Reasoning:** The court reasoned that since a CIRP was already in progress, the present IB Petition

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**Interpretation:** The interpretation is that the existence of a prior CIRP takes precedence, and

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**Application:** In this case, since a CIRP had already been initiated against Pradip Overseas

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Respondents:** Pradip Overseas…

## Timeline

- **2020-11-09 — Order for CIRP…**: Order passed in CP(IB) No. 221/7/NCLT/AHM/2017 initiating Corporate Insolvency Resolution…
- **2020-12-08 — Order in CP(IB) 287 of…**: The court disposed of CP(IB) No. 287 of 2020 as infructuous, given the existing CIRP…

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