# In the matter of Vardhman Estate and Developers Pvt. Ltd. (IB)-59(PB)-2019

> NCLT judgment dated 2019-05-13. Citation: TCN-2019-NCLT-03324. This case involves an application for the revival of CP No. (IB)-59(PB)/2019, which was…

- **Court:** NCLT
- **Order date:** 13 May 2019
- **Citation:** TCN-2019-NCLT-03324
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/vardhman-estate-and-developers-pvt-ltd-ib-59pb-2019-8e0e583f

## Summary

### Background

This case involves an application for the revival of CP No. (IB)-59(PB)/2019, which was initially disposed of on 2019-03-19 due to the admission of CP No. (IB)-1555(PB)/2018. The latter case, Kaushalya Ahluwalia v. Vardhman Estates and Developers Pvt. Ltd., was later settled before the NCLAT on 2019-04-24. The original order disposing of CP No. (IB)-59(PB)/2019 granted liberty to the applicant to revive the petition if necessary. The present application seeks revival based on the aforementioned facts and circumstances.

## Facts

On 2019-03-19, CP No. (IB)-59(PB)/2019 was disposed of due to the admission of CP No. (IB)-1555(PB)/2018, titled Mrs. Kaushalya Ahluwalia v. Vardhman Estates and Developers Pvt. Ltd. CP No. (IB)-1555(PB)/2018 was later settled before the NCLAT on 2019-04-24. The order disposing of CP No. (IB)-59(PB)/2019 included a provision allowing the applicant to revive the petition if a necessity arose. The applicant then filed CA-905(PB)/2019 seeking revival of CP No. (IB)-59(PB)/2019.

## Issues and analysis

### Issue 1: Whether the application for revival of CP No. (IB)-59(PB)/2019 should be allowed given the prior …

**Ratio:** The legal principle applied is based on the liberty granted in the original order

…

**Reasoning:** The court reasoned that the application warrants acceptance after perusing the pleadings.

…

**Interpretation:** The interpretation revolves around the scope and intent of the liberty granted

…

**Application:** The ratio and reasoning were applied to the specific facts by recognizing that

…

## Parties

- **Judges:** DEEPTI M…; SH. S.K MOH…
- **Appellants:** Sumita M…
- **Respondents:** Vardhman Estate…

## Timeline

- **2019-03-19 — Disposal of CP No.…**: CP No. (IB)-59(PB)/2019 was disposed of due to…
- **2019-04-24 — Settlement of CP No.…**: CP No. (IB)-1555(PB)/2018 was…

## 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/vardhman-estate-and-developers-pvt-ltd-ib-59pb-2019-8e0e583f