# In the matter of Focus Realcon Pvt. Ltd. {IA-1393-2023 in (IB)-461-ND-2022]

> NCLT judgment dated 2023-03-13. Citation: TCN-2023-NCLT-04272. The case involves an application IA-1393/2023 in the matter of Aadi Buildwell Pvt. Ltd. versus…

- **Court:** NCLT
- **Order date:** 13 Mar 2023
- **Citation:** TCN-2023-NCLT-04272
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/focus-realcon-pvt-ltd-ia-1393-2023-in-ib-461-nd-2022-649ad336

## Summary

### Background

The case involves an application IA-1393/2023 in the matter of Aadi Buildwell Pvt. Ltd. versus Focus Realcon Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. The application is considered in relation to Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The order was delivered on March 13, 2023.

## Facts

Aadi Buildwell Pvt. Ltd. filed an application (IA-1393/2023) against Focus Realcon Pvt. Ltd. under Section 7 of the IBC, 2016. The CoC passed a resolution on January 17, 2023. Based on this resolution and the averments made in the application, the court allowed IA-1393/2023. Consequently, the initial insolvency application (IB-461/ND/2022) was dismissed as withdrawn, suggesting a settlement or resolution between the parties.

## Issues and analysis

### Issue 1: Whether IA-1393/2023 should be allowed based on the resolution passed by the Committee of Creditors …

**Ratio:** The resolution passed by the CoC holds significant weight in insolvency proceedings,

…

**Reasoning:** The court's decision to allow IA-1393/2023 is directly based on the resolution passed by

…

**Interpretation:** The interpretation is that the court gives deference to the CoC's

…

**Application:** In this specific case, the CoC's resolution, coupled with the averments in

…

## Parties

- **Judges:** SHRI. ASHOK KUMAR…; Shri. L. N.…
- **Appellants:** Aadi Buildwell…
- **Respondents:** Focus Realcon…

## Timeline

- **2023-01-17 — CoC Resol…**: The Committee of Creditors…
- **2023-03-13 — Order Del…**: The order was delivered on March 13, 2023, allowing IA-1393/2023 and dismissing…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/focus-realcon-pvt-ltd-ia-1393-2023-in-ib-461-nd-2022-649ad336