# In the matter of Premier Ltd, IA 2323-2020 In C.P. (IB)-4174(MB)-2019

> NCLT judgment dated 2021-02-04. Citation: TCN-2021-NCLT-03120. The matter pertains to IA 2323/2020 in C.P.(IB)-4174(MB)/2019 before the National Company Law…

- **Court:** NCLT
- **Order date:** 4 Feb 2021
- **Citation:** TCN-2021-NCLT-03120
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/premier-ltd-ia-2323-2020-in-cp-ib-4174mb-2019-17426004

## Summary

### Background

The matter pertains to IA 2323/2020 in C.P.(IB)-4174(MB)/2019 before the National Company Law Tribunal, Mumbai Bench, Court-II. The urgent mentioning Praecipe was filed for the hearing of C.P.(IB)-4174(MB)/2019. During submissions, the counsel for the Corporate Debtor stated that vide order dated 29.01.2021 in CP (IB)-1224/MB/2020, the petition was admitted, and CIRP proceedings were initiated against the Corporate Debtor by Court No. 5, NCLT Mumbai Bench.

## Facts

Pioneer Enterprises filed an application against Premier Ltd under Section 9 of the Insolvency and Bankruptcy Code. The matter was taken up through virtual hearing. Akshya Zantye appeared as counsel for the Petitioner/Operational Creditor, and Zain Najem-es-sani appeared as counsel for the Corporate Debtor/Respondent. The Corporate Debtor's counsel submitted that an order dated 2021-01-29 in CP (IB)-1224/MB/2020 admitted the petition and initiated CIRP proceedings against the Corporate Debtor. Due to the admission of CP (IB)-1224/MB/2020, the current application C.P.(IB)-4174(MB)/2019 was deemed infructuous.

## Issues and analysis

### Issue 1: Whether IA 2323/2020 and C.P.(IB)-4174(MB)/2019 should be dismissed as infructuous due to the …

**Ratio:** When a prior petition has been admitted and CIRP proceedings have been initiated,

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**Reasoning:** The court reasoned that since the petition in CP (IB)-1224/MB/2020 had already been

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**Interpretation:** This interpretation ensures that parallel proceedings are avoided, and the

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**Application:** Given that CP (IB)-1224/MB/2020 was admitted and CIRP initiated, IA 2323/2020

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## Parties

- **Judges:** Harihar Prakash…; Ravikumar…; +1 more
- **Appellants:** Pioneer Enterprise…
- **Respondents:** Premier…
- **Advocates:** Akshya Z…; Zain Najem-…

## Timeline

- **2021-01-29 — Order Da…**: Order dated 29.01.2021 in CP (IB)-1224/MB/2020 admitted the petition and initiated CIRP…
- **2021-02-04 — Order Da…**: IA 2323/2020 and C.P.(IB)-4174(MB)/…

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