# In the matter of Well Pack Infrahome Pvt. Ltd. Company Petition No. IB-2630-ND-2019

> NCLT judgment dated 2020-01-09. Citation: TCN-2020-NCLT-02409. Syndicate Steel Traders, a partnership firm represented by Rakesh Mohan Singhal, filed a…

- **Court:** NCLT
- **Order date:** 9 Jan 2020
- **Citation:** TCN-2020-NCLT-02409
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/well-pack-infrahome-pvt-ltd-company-petition-no-ib-2630-nd-2019-5e9a0cc9

## Summary

### Background

Syndicate Steel Traders, a partnership firm represented by Rakesh Mohan Singhal, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was filed due to an alleged default by Wall Rock Infrahome. However, the Tribunal noted that a CIRP had already been initiated against the same Corporate Debtor in another petition filed by Volga Estates Pvt. Ltd.

## Facts

Syndicate Steel Traders, a partnership firm, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Wall Rock Infrahome Pvt. Ltd. The petition was based on an alleged default by Wall Rock Infrahome. However, the NCLT noted that a CIRP had already been initiated against Wall Rock Infrahome in another petition filed by Volga Estates Pvt. Ltd. The order initiating the CIRP in the Volga Estates case was dated 2019-12-17. Section 11 of the IBC prohibits initiating another CIRP against a corporate debtor already undergoing CIRP. Syndicate Steel Traders was given the liberty to file their claim before the Insolvency Resolution Professional (IRP) appointed in the existing CIRP and to

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## Issues and analysis

### Issue 1: Whether a fresh Corporate Insolvency Resolution Process (CIRP) can be initiated against a Corporate …

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

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**Reasoning:** The Tribunal reasoned that allowing multiple CIRPs against the same Corporate Debtor

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**Interpretation:** Section 11 is interpreted to mean that once a CIRP has been validly initiated

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**Application:** In this case, since a CIRP had already been initiated against Wall Rock

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## Parties

- **Judges:** Ina Mal…; L. N. G…
- **Appellants:** Syndicate Steel…
- **Respondents:** Wall Rock…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and Bankruptcy…
- **2019-12-17 — Order in Volga Estates…**: Order was passed in the matter of M/s Volga Estates Pvt. Ltd. Vs. Wall Rock Infrahome…

## 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)

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