# 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-04275. 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-04275
- **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-a2aeeb2b

## 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 related to Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.

## 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 2023-01-17. Based on this resolution and the averments in the application, the tribunal allowed IA-1393/2023. Separately, IB-461/ND/2022 was dismissed as withdrawn, indicating a possible settlement or resolution of the matter outside of the formal insolvency process. The resolution passed by the CoC is a key fact, as it directly influenced the tribunal's decision to allow IA-1393/2023.

## Issues and analysis

### Issue 1: Whether IA-1393/2023 should be allowed based on the resolution passed by the CoC and the averments …

**Ratio:** The decision to allow an application rests on the merits of the case, including

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**Reasoning:** The tribunal allowed IA-1393/2023 because of the resolution passed by the CoC on

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**Interpretation:** This indicates that the tribunal gave weight to the CoC's decision and found

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**Application:** The CoC's resolution and the averments in IA-1393/2023 were sufficient to

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## 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 this date, allowing IA-1393/2023 and dismissing IB-461/ND/2022…

## 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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