# In the matter of Today Homes and Infrastructure Pvt. Ltd. (IB) 1657 (ND)-2018

> NCLT judgment dated 2019-11-04. Citation: TCN-2019-NCLT-00724. The case involves a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016,…

- **Court:** NCLT
- **Order date:** 4 Nov 2019
- **Citation:** TCN-2019-NCLT-00724
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/today-homes-and-infrastructure-pvt-ltd-ib-1657-nd-2018-13787bea

## Summary

### Background

The case involves a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, filed by Rajiv Agarwal & CRS against Today Homes & Infrastructure Pvt. Ltd. The petition was filed to initiate a corporate insolvency resolution process against the corporate debtor.

## Facts

Rajiv Agarwal & CRS filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, against Today Homes & Infrastructure Pvt. Ltd. seeking to initiate a corporate insolvency resolution process. However, the court noted that a similar petition against the same corporate debtor had already been admitted in the case of Dynacon Projects Pvt. Ltd. v. Today Homes and Infrastructure Pvt. Ltd. The order in the Dynacon Projects case was dated 31.10.2019. Section 11 of the IBC prohibits the initiation of another corporate insolvency process against a corporate debtor already undergoing such a process. The court appointed Mr. Deepak Bansal as the Insolvency Professional in the existing insolvency process.

## Issues and analysis

### Issue 1: Whether a fresh corporate insolvency resolution process can be initiated against a corporate debtor …

**Ratio:** Section 11 of the Insolvency and Bankruptcy Code (IBC), 2016, prohibits the initiation of

…

**Reasoning:** The court reasoned that allowing multiple insolvency processes against the same corporate

…

**Interpretation:** Section 11 is interpreted to mean that once a corporate insolvency resolution

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**Application:** In this case, since a petition against Today Homes & Infrastructure Pvt.

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## Parties

- **Judges:** Rajesh Daya…; SUMITAPURKA…
- **Appellants:** Rajiv Ag…
- **Respondents:** Today Homes &…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and…
- **2019-10-31 — Order in Dynacon…**: Order was passed in Dynacon Projects Pvt. Ltd. v. Today Homes and Infrastructure Pvt.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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