# In the matter of Jeevan Polymers Pvt. Ltd. Company Petition IB-82-2022

> NCLT judgment dated 2022-04-25. Citation: TCN-2022-NCLT-03095. The case involves a Company Petition (IB/82/2022) before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 25 Apr 2022
- **Citation:** TCN-2022-NCLT-03095
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jeevan-polymers-pvt-ltd-company-petition-ib-82-2022-729c3733

## Summary

### Background

The case involves a Company Petition (IB/82/2022) before the National Company Law Tribunal (NCLT), Hyderabad Bench. The Corporate Debtor, Jeevan Polymers Pvt Ltd, has already been admitted into Corporate Insolvency Resolution Process (CIRP) under another Company Petition (CP (IB) No.260/9/HDB/2020). The Financial Creditor appeared via video conference, while there was no representation for the Corporate Debtor.

## Facts

The key facts are as follows: Jeevan Polymers Pvt Ltd (Corporate Debtor) is already undergoing CIRP under CP (IB) No.260/9/HDB/2020. Union Bank of India (Financial Creditor) filed Company Petition IB/82/2022 against Jeevan Polymers Pvt Ltd. The Financial Creditor's counsel appeared via video conference. There was no representation for the Corporate Debtor. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The relevance of the existing CIRP is that it makes the new petition infructuous.

## Issues and analysis

### Issue 1: Whether the Company Petition IB/82/2022 should be dismissed as infructuous given that the Corporate …

**Ratio:** A petition becomes infructuous when the relief sought is already being addressed in

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**Reasoning:** The court reasoned that since the Corporate Debtor was already admitted into CIRP under

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**Interpretation:** The interpretation is that when a Corporate Debtor is already undergoing CIRP,

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**Application:** The ratio and reasoning were applied to the specific facts of the case. Since

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## Parties

- **Judges:** Bhaskara Pantula…; BINOD KUMAR…
- **Appellants:** Union Bank of…
- **Respondents:** Jeevan Polymers…

## Timeline

- **2020-01-01 — CIRP Admi…**: Corporate Debtor admitted to CIRP…
- **2022-04-25 — NCLT Hea…**: Hearing held on 25.04.2022 at…

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