# In the matter of Badri Sarraf Jewels Pvt. Ltd.

> NCLT judgment dated 2023-11-08. Citation: TCN-2023-NCLT-00825. The case involves an application (IA-4943/2022) filed under Section 66(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 8 Nov 2023
- **Citation:** TCN-2023-NCLT-00825
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/badri-sarraf-jewels-pvt-ltd-1722cd04

## Summary

### Background

The case involves an application (IA-4943/2022) filed under Section 66(1) of the Insolvency and Bankruptcy Code, 2016, read with regulation 35A of the Insolvency and Bankruptcy Board of India Regulations, 2016. The application seeks directions to the respondents to extend assistance and cooperation to the applicant and provide necessary documents related to the Corporate Debtor. The Adjudicating Authority had previously admitted a Company Petition (IB)-3398(ND)/2019 filed by Shriji Diamonds, the Operational Creditor, for initiating CIRP against Badri Sarraf Jewels Pvt Ltd, the Corporate Debtor.

## Facts

M/S Shriji Diamonds, the Operational Creditor, initiated CIRP under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/S Badri Saraf Jewels Pvt Ltd, the Corporate Debtor. Rajesh Kumar Goel is the Applicant/Resolution Professional. Manu Kesarwani & Anr. are the Respondents/Suspended Directors. The Adjudicating Authority admitted the Company Petition (IB)-3398(ND)/2019 on 2022-05-20. IA-4943/2022 was filed under Section 66(1) of the Insolvency and Bankruptcy Code, 2016, seeking directions to the respondents to extend assistance and cooperation to the applicant and provide necessary documents related to the Corporate Debtor. A similar application, IA-2883/2022, had already been filed under Section 19(2) and 19(3) of the Code by the Interim Resolution

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## Issues and analysis

### Issue 1: Whether the application IA-4943/2022 filed under Section 66(1) of the Insolvency and Bankruptcy …

**Ratio:** The principle of avoiding multiplicity of proceedings and preventing conflicting orders

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**Reasoning:** The court reasoned that the prayers in IA 4943/2022 and IA 2883/2022 were the same.

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**Interpretation:** Section 66(1) of the Insolvency and Bankruptcy Code, 2016 allows the

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**Application:** The court applied the principle by refusing to entertain IA 4943/2022 because

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** Rajesh Kuma…
- **Respondents:** M/S BADRI SARAF…; Manu Kesa…

## Timeline

- **2022-05-20 — Admission of Company…**: The Adjudicating Authority (Bench-III) admitted the Company Petition (IB)-3398(ND)/2019…
- **2023-11-08 — Order Pron…**: The order dismissing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66(1) — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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