# In the matter of Zenica Performance Car Pvt. Ltd. CP (IB) No. 110-Chd-Hry-2021

> NCLT judgment dated 2021-08-16. Citation: TCN-2021-NCLT-01330. The matter pertains to CP (IB) No. 110Chd/Hry/2021 filed under Section 9 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Aug 2021
- **Citation:** TCN-2021-NCLT-01330
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/zenica-performance-car-pvt-ltd-cp-ib-no-110-chd-hry-2021-3647f1c2

## Summary

### Background

The matter pertains to CP (IB) No. 110Chd/Hry/2021 filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, Parvez Chugh, is an operational creditor, and the respondent, Zenica Performance Car Pvt. Ltd., is the corporate debtor. During the hearing, the counsel for the petitioner informed the court that a corporate insolvency resolution process (CIRP) had already been initiated against the same corporate debtor under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted by the Adjudicating Authority on March 22, 2021.

## Facts

Parvez Chugh, an operational creditor, filed CP (IB) No. 110Chd/Hry/2021 against Zenica Performance Car Pvt. Ltd., the corporate debtor, under Section 9 of the IBC, 2016. During the hearing, the petitioner's counsel informed the court that a CIRP had already been initiated against Zenica Performance Car Pvt. Ltd. under CP (IB) No. 262/Chd/Hry/2018, filed by Volkswagen Finance Pvt. Ltd., and admitted on March 22, 2021. This prior CIRP is a critical fact, as it directly influenced the court's decision to dispose of the current application, allowing the petitioner to pursue their claim within the existing insolvency proceedings.

## Issues and analysis

### Issue 1: Whether the present application under Section 9 of the IBC, 2016, should be entertained given the …

**Ratio:** The principle of avoiding multiplicity of proceedings and promoting efficient resolution

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**Reasoning:** The court reasoned that since a CIRP was already in progress against the corporate debtor

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**Interpretation:** This legal issue involves the interpretation of the IBC, 2016, and its

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**Application:** In this case, the court applied the principle by disposing of the current

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## Parties

- **Judges:** K.K. V…; Ajay Kumar…
- **Appellants:** Parvez…
- **Respondents:** Zenica Performance…

## Timeline

- **2018-01-01 — Prior CIRP In…**: Corporate insolvency resolution process (CIRP) initiated against Zenica Performance Car…
- **2021-03-22 — Admission of P…**: CP (IB) No. 262/Chd/Hry/2018 filed by Volkswagen Finance Pvt. Ltd. admitted by the…

## 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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