# in the matter of Tecpro Systems Ltd. CP No. (IB)-155-PB-2017

> NCLT judgment dated 2017-08-08. Citation: TCN-2017-NCLT-00649. Vertiv Energy Private Limited filed an application under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 8 Aug 2017
- **Citation:** TCN-2017-NCLT-00649
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tecpro-systems-ltd-cp-no-ib-155-pb-2017-08df9867

## Summary

### Background

Vertiv Energy Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Tecpro Systems Limited. However, it was noted that a Corporate Insolvency Resolution Process had already been initiated against Tecpro Systems Limited in the case of Edelweiss Assets Reconstruction Company Ltd. v. Tecpro Systems Limited.

## Facts

Vertiv Energy Private Limited, an Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Insolvency Resolution Process against Tecpro Systems Limited, the Corporate Debtor. The total amount of default stated was Rs. 34,88,622/- as on 12.07.2013, which remained unpaid. However, a Corporate Insolvency Resolution Process had already been initiated against Tecpro Systems Limited in the case of Edelweiss Assets Reconstruction Company Ltd. v. Tecpro Systems Limited, C.A. No. (IB)-197(PB)/2017, decided on 07.08.2017. Mr. Venkatesan Sankaranarayanan was appointed as Interim Resolution Professional in the existing insolvency process. Section 11(a) of the Code bars the initiation of a second insolvency process

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## Issues and analysis

### Issue 1: Whether an application to initiate Corporate Insolvency Resolution Process can be admitted against …

**Ratio:** A Corporate Debtor undergoing a Corporate Insolvency Resolution Process is not entitled

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**Reasoning:** The court reasoned that once the competence to file an application by the Corporate

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**Interpretation:** Section 11(a) of the Insolvency and Bankruptcy Code, 2016, explicitly bars the

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**Application:** In this case, Tecpro Systems Limited was already undergoing a Corporate

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## Parties

- **Judges:** M. M. K…; DeepaKr…
- **Appellants:** Vertiv Energy…
- **Respondents:** Tecpro Systems…

## Timeline

- **2013-07-12 — Date of D…**: The total amount of default stated to…
- **2017-08-07 — Decision in Edelweiss Assets Reconstruction…**: C.A. No. (IB)-197(PB)/2017 was decided, initiating a Corporate Insolvency Resolution…

## 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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