# In the matter of Aliens Developers Pvt. Ltd. Company Petition IB-6-2022

> NCLT judgment dated 2022-04-05. Citation: TCN-2022-NCLT-03378. The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 5 Apr 2022
- **Citation:** TCN-2022-NCLT-03378
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aliens-developers-pvt-ltd-company-petition-ib-6-2022-5e337c29

## Summary

### Background

The document is an attendance-cum-order sheet from the National Company Law Tribunal (NCLT), Hyderabad Bench, regarding a Company Petition (IB/6/2022). The hearing was held on April 5, 2022, via video conference. The petition involves Aliens Developers Pvt Ltd as the corporate debtor, with Vemuri RKV Naga & 2 others as the petitioners. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

The National Company Law Tribunal (NCLT), Hyderabad Bench, convened a hearing on April 5, 2022, via video conference for Company Petition IB/6/2022. Aliens Developers Pvt Ltd is the corporate debtor in this case. Vemuri RKV Naga & 2 others are the petitioners. The petition was filed under Section 7 of the IBC. The Financial Creditor's submissions led to the petition being dismissed as withdrawn. This suggests a possible settlement, resolution, or a change in the Financial Creditor's stance.

## Issues and analysis

### Issue 1: Whether the Company Petition IB/6/2022 filed …

**Ratio:** A petition under Section 7 of the IBC can be admitted if the Adjudicating Authority

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**Reasoning:** The order does not explicitly state whether a default occurred or if the application was

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**Interpretation:** Section 7 of the IBC allows a financial creditor to initiate the corporate

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**Application:** In this case, the Financial Creditor's decision to withdraw the petition

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## Parties

- **Judges:** Bhaskara Pantula…; Veera Brahma Rao…
- **Appellants:** Vemuri RKV Naga &…
- **Respondents:** Aliens Developers…

## Timeline

- **2022-04-05 — NCLT Hea…**: Hearing held at NCLT Hyderabad…
- **2022-01-01 — Company Petiti…**: Company Petition…

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