# In the matter of Unitech Hi-Tech Developers Ltd. Company Petition No. (IB)-32(ND)-2017

> NCLT judgment dated 2017-03-31. Citation: TCN-2017-NCLT-00933. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 31 Mar 2017
- **Citation:** TCN-2017-NCLT-00933
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unitech-hi-tech-developers-ltd-company-petition-no-ib-32nd-2017-9b10691c

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a corporate insolvency resolution process against Unitech Hi-Tech Developers Limited. The petitioner, Raman Seth, booked an apartment in Unitech Grande Sector 96, 97, 98, Noida, and was issued a provisional allotment letter dated 14th August 2010. The petitioner claims to have paid Rs. 1,25,20,514 to the respondent. The provisional date of allotment was 12th August 2010, with possession to be delivered within 30 months from that date. The petitioner alleges that the respondent failed to deliver possession and refund the deposited amount with interest. The applicant claims an outstanding default amount of Rs. 1,37,72,565.40 as of 12.02.2013. A demand

…

## Facts

Raman Seth, the petitioner, booked an apartment in Unitech Grande Sector 96, 97, 98, Noida. A provisional allotment letter was issued on 14th August 2010. The petitioner paid Rs. 1,25,20,514 to Unitech Hi-Tech Developers Ltd., the respondent, for the apartment. The provisional allotment date was 12th August 2010, with possession promised within 30 months from that date. Unitech Hi-Tech Developers Ltd. allegedly failed to deliver possession of the apartment within the stipulated time and did not refund the deposited amount with interest. The applicant claims an outstanding default of Rs. 1,37,72,565.40 as of 12.02.2013. A demand notice was issued on 24.01.2017 under the Insolvency and Bankruptcy Code, 2016. ICICI Bank certified that there had been no payments from

…

## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, can be …

**Ratio:** The initiation of the insolvency resolution process under the Code cannot be triggered if

…

**Reasoning:** The court reasoned that the claim was sub-judice before the National Consumer Disputes

…

**Interpretation:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational

…

**Application:** In this case, the petitioner's claim was already being adjudicated by the

…

## Parties

- **Judges:** Ina Mal…; S. K. MOH…
- **Appellants:** Raman…
- **Respondents:** Unitech Hi-Tech…; M/s Unitech…

## Timeline

- **2010-08-14 — Provisional Allotment…**: Provisional allotment letter issued to the petitioner for an apartment in Unitech Grande…
- **2010-08-12 — Provisional Date of…**: Provisional date of…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/unitech-hi-tech-developers-ltd-company-petition-no-ib-32nd-2017-9b10691c