# In the matter of Samiah International Builders Ltd. IA-3287,3289 & 3313-2021 in (IB)-318(ND)-2020

> NCLT judgment dated 2021-08-03. Citation: TCN-2021-NCLT-01501. The case involves applications (IA-3287/2021, IA3289/2021, and IA-3313/2021) filed in relation…

- **Court:** NCLT
- **Order date:** 3 Aug 2021
- **Citation:** TCN-2021-NCLT-01501
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/samiah-international-builders-ltd-ia-32873289-3313-2021-in-ib-318nd-2020-407f35f0

## Summary

### Background

The case involves applications (IA-3287/2021, IA3289/2021, and IA-3313/2021) filed in relation to an insolvency case (IB-318(ND)2020) under Section 9 of the IBC Code, 2016. IA-3287/2021 was filed by the Corporate Debtor seeking to allow the application based on settlement terms and to restore the board of directors. IA-3313/2021 was filed by the Corporate Debtor to recall an order dated 09.07.2021. The court notes that CIRP has been initiated against the Corporate Debtor.

## Facts

Mr. Danish Irfan filed an application against M/s Samiah International Builders Ltd. under Section 9 of the IBC Code, 2016, leading to the initiation of corporate insolvency resolution process (CIRP). The Corporate Debtor, M/s Samiah International Builders Ltd., filed IA-3287/2021 seeking to allow the application based on settlement terms and restore the board of directors. The Corporate Debtor also filed IA-3313/2021 to recall an order dated 09.07.2021. The IRP's counsel informed the court that the CoC had not been constituted. The court noted that the order sought to be recalled in IA-3313/2021 had already been pronounced on 23.07.2021, and CIRP had been initiated against the Corporate Debtor.

## Issues and analysis

### Issue 1: Whether IA-3287/2021, filed by the Corporate Debtor for settlement and restoration of the board, is …

**Ratio:** Section 12A of the IBC requires the approval of 90% of the voting share of the CoC for an

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**Reasoning:** The court reasoned that the application was filed by the Corporate Debtor, not the

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**Interpretation:** Section 12A and Regulation 30A are interpreted to mean that any application for

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**Application:** Since the application was filed by the Corporate Debtor without the required

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## Parties

- **Judges:** SHRI. ABNI RANJAN…; Shri. L. N.…
- **Appellants:** Danish…
- **Respondents:** M/s Samiah…

## Timeline

- **2020-01-01 — CP(IB)-318(N…**: Corporate insolvency resolution process initiated against M/s Samiah International…
- **2021-07-09 — Order Da…**: Order passed by the Tribunal in CP 318/2020,…

## 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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