# In the matter of Shri Tradco Deesan Private Limited CP (IB) No.1885-MB.IV-2018

> NCLT judgment dated 2020-09-18. Citation: TCN-2020-NCLT-00584. The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 18 Sept 2020
- **Citation:** TCN-2020-NCLT-00584
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/shri-tradco-deesan-private-limited-cp-ib-no1885-mbiv-2018-8db1fd0b

## Summary

### Background

The case involves a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Solartex India Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Tradco Deesan Private Limited (Corporate Debtor).

## Facts

Solartex India Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Shri Tradco Deesan Private Limited, the Corporate Debtor. The petition was based on a Board Resolution dated 29.01.2018. However, the Adjudicating Authority had already initiated CIRP against the Corporate Debtor vide order dated 16.07.2020 in CP (IB) No.2361/MB.V/2019 and appointed Mr. Fanendra Harakchand Munot as the IRP. This prior initiation of CIRP rendered the present petition infructuous.

## Issues and analysis

### Issue 1: Whether the present petition under Section 9 of the IBC should be admitted given that CIRP has …

**Ratio:** A subsequent petition for CIRP against the same Corporate Debtor is not maintainable if

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**Reasoning:** The court reasoned that since CIRP had already been initiated against the Corporate

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**Interpretation:** The interpretation is that once CIRP is initiated against a Corporate Debtor,

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**Application:** In this case, since CIRP had already been initiated against Shri Tradco Deesan

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## Parties

- **Judges:** Rajasekha…; RavikumarDu…
- **Appellants:** Solartex India…
- **Respondents:** Tradco Deesan…

## Timeline

- **2018-01-29 — Board Reso…**: Board Resolution passed by Solartex India Private Limited to initiate CIRP against Shri…
- **2020-07-16 — CIRP Init…**: CIRP initiated against Shri Tradco Deesan…

## 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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