# In the matter of Unnati Fortune Hotmart Pvt. Ltd. (IB)-988(PB)-2019

> NCLT judgment dated 2019-07-01. Citation: TCN-2019-NCLT-02728. The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 1 Jul 2019
- **Citation:** TCN-2019-NCLT-02728
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unnati-fortune-hotmart-pvt-ltd-ib-988pb-2019-c6178dd0

## Summary

### Background

The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor, M/s. Unnati Fortune Hotmart Pvt. Ltd., was already admitted into the Corporate Insolvency Resolution Process (CIRP) under C.P. No. (IB)-449(PB)/2018 on 11.06.2019.

## Facts

Corporation Bank filed an application/petition against M/s. Unnati Fortune Hotmart Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor, M/s. Unnati Fortune Hotmart Pvt. Ltd., had already been admitted into CIRP under C.P. No. (IB)-449(PB)/2018 on 11.06.2019. The petitioner in the present petition is directed to file its claim before the IRP. The order clarifies that if the order dated 11.06.2019 is set aside by the National Company Law Appellate Tribunal or a Superior Court, the petitioner has the liberty to file an appropriate application for revival of the petition.

## Issues and analysis

### Issue 1: Whether the petitioner's claim should be considered …

**Ratio:** The legal principle is that when a CIRP is already in progress, claims against the

…

**Reasoning:** The court reasoned that since the CIRP had already commenced on 11.06.2019, the

…

**Interpretation:** This interprets the IBC to mean that all claims arising after the commencement

…

**Application:** The court applied this principle by directing the petitioner to file its claim

…

## Parties

- **Judges:** DEEPTI M…; SH. PRADEEP R.…
- **Appellants:** Corporatio…
- **Respondents:** M/s. Unnati…

## Timeline

- **2019-06-11 — CIRP Admi…**: M/s. Unnati Fortune Hotmart Pvt. Ltd. admitted…
- **2019-07-01 — Order Del…**: Order delivered directing the…

## 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)

---

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/unnati-fortune-hotmart-pvt-ltd-ib-988pb-2019-c6178dd0