# In the matter of Value Infracon India Pvt. Ltd. (IB)-22(PB)-2018

> NCLT judgment dated 2019-02-08. Citation: TCN-2019-NCLT-04929. The case involves Daimler Financial Services Pvt. Ltd. as the applicant/petitioner and Value…

- **Court:** NCLT
- **Order date:** 8 Feb 2019
- **Citation:** TCN-2019-NCLT-04929
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/value-infracon-india-pvt-ltd-ib-22pb-2018-9caffde1

## Summary

### Background

The case involves Daimler Financial Services Pvt. Ltd. as the applicant/petitioner and Value Infracon India Pvt. Ltd. as the respondent. The matter pertains to Section 7 of the Insolvency and Bankruptcy Code, 2016, specifically related to the Corporate Insolvency Resolution Process (CIRP). The order was delivered on February 8, 2019.

## Facts

Daimler Financial Services Pvt. Ltd. filed an application/petition against Value Infracon India Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case is related to the Corporate Insolvency Resolution Process (CIRP). The petition was admitted on 30.07.2018. A period from 25.10.2018 to 18.01.2019 was consumed in litigation. The applicant requested that this period be excluded from the CIRP period of 270 days. The court considered the status report and the plea based on the orders of the Supreme Court.

## Issues and analysis

### Issue 1: Whether the period from 25.10.2018 to 18.01.2019, consumed in litigation, should be excluded from …

**Ratio:** The ratio is based on the principle that periods consumed in litigation can be excluded

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**Reasoning:** The court reasoned that, based on the plea and orders of the Supreme Court, the period

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**Interpretation:** This involves interpreting the provisions of the Insolvency and Bankruptcy

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**Application:** The court applied this ratio to the specific facts of the case, where a period

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## Parties

- **Judges:** M. M. K…; Pradeep R.…
- **Appellants:** Daimler Financial…
- **Respondents:** Value Infracon…

## Timeline

- **2018-07-30 — Petition Ad…**: The petition was admitted…
- **2018-10-25 — Litigation Per…**: Start of the period…

## 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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