# 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-04675. 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-04675
- **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-870ab858

## 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 the 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 filed an application (IA 3128 of 2022) seeking amendment of the memorandum of parties in IA 338 of 2021. The applicant also requested to substitute its name in place of the erstwhile Administrator, Mr. Subramaniakumar. The case is related to CP(IB)4258/MB/C-II/2019, involving Dewan Housing Finance Corporation Limited as the corporate debtor and Kapil Wadhawan & Ors. as respondents. The Reserve Bank of India is also involved as a Financial Sector Regulator. The court noted that 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 principle of judicial consistency and efficiency dictates that similar issues should

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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 been previously decided, the

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**Application:** Since a similar issue was already decided in IA 2852 of 2021, the court applied

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## Parties

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

## Timeline

- **2022-01-01 — IA 3128/2022…**: Application IA 3128 of 2022 filed by the applicant seeking amendment of the memorandum of…
- **2021-01-01 — IA 338/2…**: Related application IA…

## 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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