# In the matter of Bharat Waterfront Pvt.  Ltd. IA (IBC)-199-2022 in Company Petition IB-4-2022

> NCLT judgment dated 2022-03-22. Citation: TCN-2022-NCLT-03608. The document pertains to an order passed by the National Company Law Tribunal (NCLT), Hyderabad…

- **Court:** NCLT
- **Order date:** 22 Mar 2022
- **Citation:** TCN-2022-NCLT-03608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/bharat-waterfront-pvt-ltd-ia-ibc-199-2022-in-company-petition-ib-4-2022-16728dc1

## Summary

### Background

The document pertains to an order passed by the National Company Law Tribunal (NCLT), Hyderabad Bench, regarding IA (IBC)/199/2022 in Company Petition IB/4/2022. The hearing was conducted via video conference on March 22, 2022. Learned counsel for the Financial Creditor and the Corporate Debtor appeared via video conference.

## Facts

The National Company Law Tribunal (NCLT), Hyderabad Bench, conducted a hearing via video conference on March 22, 2022, regarding IA (IBC)/199/2022 in Company Petition IB/4/2022. Bharat Waterfront Pvt Ltd is the company involved. IL & FS Financial Services Ltd is the petitioner. The application concerns a counter seeking to set aside an ex-parte order. The tribunal allowed the IA and took the counter on record. The petitioner was granted one week to file a rejoinder, and the matter was scheduled for a hearing on April 12, 2022. The application is filed under Section 7 of IBC.

## Issues and analysis

### Issue 1: Whether IA No. 199/2022 should be …

**Ratio:** The tribunal has the discretion to allow applications and take documents on record based

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**Reasoning:** The tribunal considered the statements made by the counsel for the applicant in IA No.

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**Interpretation:** This reflects the tribunal's power to manage proceedings and ensure all

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**Application:** Based on the counsel's statement, the tribunal exercised its discretion to

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## Parties

- **Judges:** Bhaskara Pantula…; Dr.Binod Kumar…
- **Appellants:** IL & FS Financial…
- **Respondents:** Bharat Waterfront…

## Timeline

- **2022-03-22 — Hearing…**: Hearing of IA (IBC)/199/2022 in Company…
- **2022-04-12 — Next Hearin…**: Matter to come up for…

## 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)

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