# 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-03119. 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-03119
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/premier-ltd-ia-2323-2020-in-cpib-4174mb-2019-607322f8

## 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 as an Operational Creditor 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. Zain Najem-es-sani appeared as counsel for the Corporate Debtor/Respondent. The Corporate Debtor's counsel submitted that an order dated 29.01.2021 in CP (IB)-1224/MB/2020 had already admitted the petition and initiated CIRP proceedings against the Corporate Debtor. Due to the initiation of CIRP proceedings, the current C.P.(IB)-4174(MB)/2019 became 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 CIRP proceedings have already been initiated against a Corporate Debtor based on a

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**Reasoning:** The court reasoned that since the CIRP proceedings had already been initiated based on

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**Interpretation:** The interpretation is that once CIRP is initiated, all claims must be addressed

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

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## Parties

- **Judges:** Harihar Prakash…; RavikumarDu…
- **Appellants:** Pioneer Enterprise…
- **Respondents:** Premier…

## Timeline

- **2021-01-29 — Order in CP (IB)-1224/MB…**: Order passed admitting the petition and initiating CIRP proceedings against the Corporate…
- **2021-02-04 — Order in IA 2323/2020 and…**: IA 2323/2020 and C.P.(IB)-4174(MB)/…

## 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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