# In the matter of Feedback Infra Private Limited

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03089. IIFCL Asset Management Company Limited, the Financial Creditor, filed an application under…

- **Court:** NCLT
- **Order date:** 12 Jan 2024
- **Citation:** TCN-2024-NCLT-03089
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/feedback-infra-private-limited-70ec8aa1

## Summary

### Background

IIFCL Asset Management Company Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Feedback Infra Pvt. Ltd., the Corporate Debtor.

## Facts

IIFCL Asset Management Company Limited, identified as the Financial Creditor, initiated proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Feedback Infra Private Limited, the Corporate Debtor. The application sought to commence the Corporate Insolvency Resolution Process (CIRP). However, the NCLT noted that a prior petition, Company Petition No. (IB)-545(ND)/2023, had already been admitted on 2024-01-11, initiating CIRP against Feedback Infra Private Limited, with Mr. Rajneesh Kumar Aggarwal appointed as the Interim Resolution Professional (IRP). Given the existing CIRP, the Tribunal disposed of the current application, granting IIFCL Asset Management Company Limited the liberty to file its claim with the appointed IRP.

## Issues and analysis

### Issue 1: Whether the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating …

**Ratio:** The principle is that parallel CIRP proceedings against the same Corporate Debtor are not

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**Reasoning:** The Tribunal reasoned that since CIRP had already commenced against Feedback Infra Pvt.

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

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**Application:** In this case, the Tribunal applied the principle by disposing of the

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## Parties

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

## Timeline

- **2024-01-11 — Order passed in Company Petition No.…**: Tribunal passed an order admitting the petition and directing commencement of CIRP…
- **2024-01-12 — Order Del…**: The Tribunal disposed of the application filed by IIFCL Asset Management Company Limited,…

## 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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