# In the matter of Radius Estates and Developers Pvt. Ltd. CP(IB)-87(MB)-2021

> NCLT judgment dated 2021-07-09. Citation: TCN-2021-NCLT-01796. The case pertains to CP(IB)-87(MB)/2021 filed under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 9 Jul 2021
- **Citation:** TCN-2021-NCLT-01796
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/radius-estates-and-developers-pvt-ltd-cpib-87mb-2021-15752297

## Summary

### Background

The case pertains to CP(IB)-87(MB)/2021 filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The court convened through video conference. The counsel for the petitioner, Ms. Anamika Singh i/b IndusLaw, was present. The counsel submitted that another CP(IB)-1390/2020 against the same Corporate Debtor has already been admitted vide an order dated 30.04.2021 and CIRP commenced.

## Facts

Yes Bank Ltd. filed CP(IB)-87(MB)/2021 against Radius Estates and Developers Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the hearing on 09.07.2021, the counsel for the petitioner submitted that another petition, CP(IB)-1390/2020, against the same Corporate Debtor had already been admitted on 30.04.2021, and CIRP had commenced. This fact made the current petition infructuous. The court accepted this submission and dismissed the petition.

## Issues and analysis

### Issue 1: Whether CP(IB)-87(MB)/2021 should be dismissed as infructuous due to the admission of another …

**Ratio:** When another insolvency petition against the same corporate debtor has already been

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**Reasoning:** The court reasoned that since another petition against the same Corporate Debtor had

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**Interpretation:** The interpretation is that the IBC aims to consolidate insolvency proceedings

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**Application:** The court applied the ratio to the facts by noting that CP(IB)-1390/2020 had

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## Parties

- **Judges:** RAJESH S…; SUCHITRA KANUPARTH…; +1 more
- **Appellants:** Yes Bank…
- **Respondents:** Radius Estates…

## Timeline

- **2021-04-30 — Admission of CP(IB)-1390…**: Another CP(IB)-1390/2020 against the same Corporate Debtor was admitted, and CIRP…
- **2021-07-09 — Hearing of CP(IB)-87(MB)…**: The hearing for CP(IB)-87(MB)/2021 was held, and the petition was dismissed as…

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