# In the matter of Feedback Infra Private Limited

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03125. 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-03125
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/feedback-infra-private-limited-1b19af05

## 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 Tribunal, and CIRP had been initiated against Feedback Infra Private Limited. Mr. Rajneesh Kumar Aggarwal was appointed as the IRP. The current application was filed to initiate a separate CIRP. The Tribunal considered the fact that CIRP was already initiated and an IRP was appointed.

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the IBC, 2016 for initiation of CIRP against Feedback …

**Ratio:** The principle is that parallel CIRP proceedings against the same corporate debtor are not

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

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**Interpretation:** This interpretation aligns with the intent of the IBC to provide a streamlined

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**Application:** In this case, the NCLT applied the principle by disposing of HDFC Bank's

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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 against Feedback Infra…
- **2024-01-11 — Order Passed in…**: Tribunal passed order admitting Company Petition No. (IB)-545(ND)/2023 and directing…

## 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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