# In the matter of Feedback Infra Private Limited

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03109. IIFCL Asset Management Company Limited, the Financial Creditor, filed an application under…

- **Court:** NCLT
- **Order date:** 12 Jan 2024
- **Citation:** TCN-2024-NCLT-03109
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/feedback-infra-private-limited-1ae6a07f

## Summary

### Background

IIFCL Asset Management Company 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 Pvt. Ltd., the Corporate Debtor. The application was filed due to the Corporate Debtor's alleged default. However, another petition, Company Petition No. (IB)-545(ND)/2023, had already been admitted, and CIRP had commenced against the same Corporate Debtor.

## Facts

IIFCL Asset Management Company Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against Feedback Infra Pvt. Ltd. The basis for the application was the alleged default by Feedback Infra Pvt. Ltd. However, prior to this application, another petition, Company Petition No. (IB)-545(ND)/2023, had already been admitted by the Tribunal, and CIRP had commenced against Feedback Infra Pvt. Ltd. Mr. Rajneesh Kumar Aggarwal had been appointed as the Interim Resolution Professional (IRP) in the ongoing CIRP. The key fact is the existence of a prior admitted petition and the commencement of CIRP against the same Corporate Debtor.

## Issues and analysis

### Issue 1: Whether the application filed by IIFCL Asset Management Company Limited under Section 7 of the IBC …

**Ratio:** When CIRP has already commenced against a corporate debtor under a prior petition, a

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**Reasoning:** The court reasoned that admitting another application for CIRP against the same corporate

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

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**Application:** In this case, since CIRP had already commenced against Feedback Infra Pvt. Ltd.

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. SUBRATA KUMAR…
- **Appellants:** IIFCL Asset…
- **Respondents:** M/s. Feedback…
- **Advocates:** Ankur M…; Yamini N…; +4 more

## Timeline

- **2023-01-01 — Filing of Company…**: Company Petition No. (IB)-545(ND)/2023 was filed and admitted, leading to the…
- **2024-01-11 — Order passed in Company Petition No.…**: The Tribunal passed an order admitting Company Petition No. (IB)-545(ND)/2023 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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