# In the matter of Feedback Infra Private Limited

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03140. 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-03140
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/feedback-infra-private-limited-f662d495

## 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 corporate debtor. The application was filed with a prayer to initiate the corporate insolvency process against Feedback Infra Pvt. Ltd.

## 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 based on the premise that Feedback Infra Private Limited was in default of its financial obligations to HDFC Bank Limited. However, prior to the hearing of this application, another petition, Company Petition No. (IB)-545(ND)/2023, had already been admitted against Feedback Infra Private Limited, and CIRP had commenced with Mr. Rajneesh Kumar Aggarwal appointed as the IRP. Given the ongoing CIRP, the court considered the appropriate course of action for the present application.

## Issues and analysis

### Issue 1: Whether the application filed by HDFC Bank Limited under Section 7 of the IBC, 2016, should be …

**Ratio:** The principle is that once CIRP has commenced against a corporate debtor, all creditors

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

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**Interpretation:** This interprets Section 7 of the IBC, 2016, in conjunction with the principles

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**Application:** The ratio and reasoning were applied to the facts by disposing of the present

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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 Another…**: Order dated 11.01.2024 passed in Company Petition No. (IB)-545(ND)/2023, admitting the…

## 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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