# In the matter of TGB Reality Pvt. Ltd. IB-187-(ND)-2019

> NCLT judgment dated 2019-05-27. Citation: TCN-2019-NCLT-03182. The application was filed by Babulal Mahawar under Section 9 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 27 May 2019
- **Citation:** TCN-2019-NCLT-03182
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/tgb-reality-pvt-ltd-ib-187-nd-2019-0add19cd

## Summary

### Background

The application was filed by Babulal Mahawar under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against TGB Realty Pvt. Ltd.

## Facts

Babulal Mahawar filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against TGB Realty Pvt. Ltd. However, the court observed that a CIRP had already been initiated against TGB Realty Pvt. Ltd. in another case, Archana Narang vs. TGB Realty Pvt. Ltd., under IB-381/(ND)/2019, with an order passed on 2019-05-23. The Interim Resolution Professional (IRP) appointed for TGB Realty Pvt. Ltd. is Mr. Ajay Gupta. The court considered the current application redundant due to the existing CIRP.

## Issues and analysis

### Issue 1: Whether the application filed by Babulal Mahawar under Section 9 of the Insolvency and Bankruptcy …

**Ratio:** An application for initiating CIRP is redundant if a CIRP has already been initiated

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**Reasoning:** The court reasoned that since a CIRP had already been initiated against TGB Realty Pvt.

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**Interpretation:** The interpretation of the IBC is that only one CIRP can be active against a

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**Application:** The court applied the ratio to the facts by noting that the CIRP in

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## Parties

- **Judges:** Ina Mal…; V.K. SUB…
- **Appellants:** Babu Lal M…
- **Respondents:** TGB Realty Pvt.…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and Bankruptcy…
- **2019-05-23 — Order in IB-381/(ND)/201…**: Order passed in IB-381/(ND)/2019, Archana Narang vs. TGB Realty Pvt. Ltd., initiating…

## 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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