# In the matter of Prime Infra Park (P) Ltd. IB-1084-ND-2019

> NCLT judgment dated 2019-07-10. Citation: TCN-2019-NCLT-02587. The case pertains to the maintainability of a Corporate Insolvency Resolution Process (CIRP)…

- **Court:** NCLT
- **Order date:** 10 Jul 2019
- **Citation:** TCN-2019-NCLT-02587
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/prime-infra-park-p-ltd-ib-1084-nd-2019-9d13a7da

## Summary

### Background

The case pertains to the maintainability of a Corporate Insolvency Resolution Process (CIRP) initiated against a party in a Tripartite Agreement. The Hon'ble NCLAT and the Hon'ble Principal Bench, New Delhi, have previously ruled that CIRP initiated against one party cannot affect others concerning the same claim.

## Facts

HDFC ERGO General Insurance Co. Ltd filed a case against Prime Infra Park (P) Ltd under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Tribunal considered the maintainability of the CIRP against Prime Infra Park (P) Ltd, especially in light of previous rulings that CIRP against one party in a Tripartite Agreement does not automatically affect others. The petitioner's counsel presented a judgment by the NCLAT in Company Appeal (AT) Insolvency No.683 of 2018, which stated that CIRP can be initiated against both the Holding Company and the Subsidiary Company. The court then ordered notice to be served to the Corporate Debtor, Prime Infra Park (P) Ltd, and set a hearing date.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) can be initiated against the Corporate …

**Ratio:** The legal principle is that CIRP initiated against one party in a Tripartite Agreement

…

**Reasoning:** The court considered the previous rulings and the NCLAT judgment presented by the

…

**Interpretation:** The interpretation involves balancing the general principle of not affecting

…

**Application:** In this case, the court applied the NCLAT's judgment allowing CIRP against both

…

## Parties

- **Judges:** R. VARADH…; DeepaKr…
- **Appellants:** HDFC ERGO General…
- **Respondents:** Prime Infra Park…

## Timeline

- **2019-05-22 — Tribunal Dir…**: The Tribunal issued directions…
- **2018-01-16 — NCLAT Or…**: Order in the matter of Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd vs. Axis…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/prime-infra-park-p-ltd-ib-1084-nd-2019-9d13a7da