# In he matter of Kapico Kerala Resorts Private Limited CP(IBC)-53-KOB-2022

> NCLT judgment dated 2023-05-03. Citation: TCN-2023-NCLT-03474. The case involves an application filed by Vijay Ele-Techs Private Limited (Operational…

- **Court:** NCLT
- **Order date:** 3 May 2023
- **Citation:** TCN-2023-NCLT-03474
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/in-he-matter-of-kapico-kerala-resorts-private-limited-cpibc-53-kob-2022-83130b41

## Summary

### Background

The case involves an application filed by Vijay Ele-Techs Private Limited (Operational Creditor) against Kapico Kerala Resorts Private Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed an outstanding amount of Rs. 2,50,55,770/- for electrification work done for the Corporate Debtor's resort. The Corporate Debtor had entrusted the work of electrification of the resort of the Corporate Debtor at Nediyathuruthu, Alappuzha District to the Operational Creditor on 11.07.2011 and the said contract was amended vide letter dated 19.07.2012. The Corporate Debtor had also placed orders for the installation and supply of 7 number of panel

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## Facts

Vijay Ele-Techs Private Limited (Operational Creditor) undertook electrification work for Kapico Kerala Resorts Private Limited (Corporate Debtor) at their resort in Nediyathuruthu, Alappuzha District, based on a contract dated 11.07.2011, amended on 19.07.2012. The Corporate Debtor also placed orders for the installation and supply of 7 panel boards vide separate purchase order No.300 dated 17. 05.2012. The Operational Creditor completed the work and installed the panel boards by 2013. The Hon'ble High Court of Kerala directed the demolition of the resorts of the Corporate Debtor for violation of C.R.Z. Regulations. However, the same was stayed by the Hon'ble Supreme Court of India on 08.08.2014. The Operational Creditor and the Corporate Debtor jointly measured the

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## Issues and analysis

### Issue 1: Whether this petition is maintainable in view of decree dated 21.06.2022 is stayed by the High …

**Ratio:** The legal principle is that a decree that has been stayed by a higher court is rendered

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**Reasoning:** The NCLT reasoned that since the decree dated 21.06.2022, which formed the basis of the

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**Interpretation:** The interpretation is that a stay order from a higher court effectively

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**Application:** In this case, the High Court's stay order on the decree meant that the

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## Parties

- **Judges:** Shri. P. Mo…; SHRI. SATYA…
- **Appellants:** M/s. Vijay…
- **Respondents:** M/s. Kapico…
- **Advocates:** Dhananjay…; Abhinav…; +3 more

## Timeline

- **2011-07-11 — Contract…**: Corporate Debtor entrusted…
- **2012-07-19 — Contract Am…**: Amendment to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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