# In the matter of Dewan Housing Finance Corporation Limited IA No. 338-2021 & IA No. 3128-2022 in CP(IB)4258-MB-C-II-2019

> NCLT judgment dated 2023-02-09. Citation: TCN-2023-NCLT-04697. The case involves an application (IA 3128 of 2022) filed by the applicant seeking amendment of…

- **Court:** NCLT
- **Order date:** 9 Feb 2023
- **Citation:** TCN-2023-NCLT-04697
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dewan-housing-finance-corporation-limited-ia-no-338-2021-ia-no-3128-2022-in-cpib-386380e1

## Summary

### Background

The case involves an application (IA 3128 of 2022) filed by the applicant seeking amendment of the memorandum of parties in IA 338 of 2021 and all necessary consequential amendments to IA 338 of 2021. The applicant also requested to substitute its name "Piramal Capital & Housing Finance Limited" in place of the erstwhile Administrator, Mr. Subramaniakumar.

## Facts

Piramal Capital & Housing Finance Limited (formerly known as Dewan Housing Finance Corporation Limited) filed an application (IA 3128 of 2022) seeking amendment of the memorandum of parties in IA 338 of 2021. The applicant also prayed to substitute its name in place of the erstwhile Administrator, Mr. Subramaniakumar. The application was filed in the context of an insolvency resolution process under the Insolvency & Bankruptcy Code, 2016, specifically under Section 60(5). The respondents are Kapil Wadhawan & Ors. The corporate debtor is Dewan Housing Finance Corporation Limited. A similar issue was dealt with in IA 2852 of 2021.

## Issues and analysis

### Issue 1: Whether the application (IA 3128 of 2022) for amendment of the memorandum of parties in IA 338 of …

**Ratio:** The court relied on the principle of consistency and the precedent set in a similar case

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**Reasoning:** The court reasoned that a similar issue had already been dealt with in IA 2852 of 2021,

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**Interpretation:** The interpretation is that if a similar issue has already been decided by the

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**Application:** The ratio and reasoning were applied to the specific facts of the case, where a

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## Parties

- **Judges:** P.N. Des…; Shyam Babu…
- **Appellants:** PIRAMAL CAPITAL &…
- **Respondents:** Dewan Housing…; Kapil Wad…

## Timeline

- **2019-01-01 — CP(IB)4258/MB/…**: Filing of Corporate Insolvency…
- **2021-01-01 — IA 338/2…**: Interlocutory…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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