# In the matter of Feedback Infra Private Limited

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03097. HDFC Bank Limited, the financial creditor, filed an application under Section 7 of the…

- **Court:** NCLT
- **Order date:** 12 Jan 2024
- **Citation:** TCN-2024-NCLT-03097
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/feedback-infra-private-limited-092b906e

## Summary

### Background

HDFC Bank Limited, the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Feedback Infra Private Limited. The application was filed with the National Company Law Tribunal (NCLT), New Delhi Bench.

## Facts

HDFC Bank Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Feedback Infra Private Limited. The application was filed before the NCLT, New Delhi Bench. Prior to this application, another petition, Company Petition No. (IB)-545(ND)/2023, had already been admitted by the NCLT on 11.01.2024, initiating CIRP against Feedback Infra Private Limited, and Mr. Rajneesh Kumar Aggarwal was appointed as the IRP. The present application was disposed of, granting HDFC Bank the liberty to stake its claim before the IRP in the ongoing CIRP. The order also stated that HDFC Bank could revive the application if the CIRP terminates without a resolution plan or liquidation.

## Issues and analysis

### Issue 1: Whether the application filed by HDFC Bank Limited under Section 7 of the Insolvency and Bankruptcy …

**Ratio:** When CIRP has already been initiated against a corporate debtor, and an IRP has been

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**Reasoning:** The NCLT reasoned that since CIRP had already commenced against Feedback Infra Private

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**Interpretation:** The interpretation of Section 7 of the IBC, 2016, in conjunction with the

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**Application:** The ratio and reasoning were applied to the specific facts of the case by

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. SUBRATA KUMAR…
- **Appellants:** HDFC Bank L…
- **Respondents:** Feedback Infra…; M/s. Feedback…

## Timeline

- **2023-01-01 — Company Petiti…**: Company Petition No. (IB)-566(ND)/2023 filed by HDFC Bank Limited under Section 7 of IBC,…
- **2024-01-11 — Order Passed in Another…**: Order passed in Company Petition No. (IB)-545(ND)/2023 admitting the petition and…

## 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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