# In the matter of Karvy Data Management Services Ltd.

> NCLT judgment dated 2023-09-15. Citation: TCN-2023-NCLT-01571. The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC),…

- **Court:** NCLT
- **Order date:** 15 Sept 2023
- **Citation:** TCN-2023-NCLT-01571
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/karvy-data-management-services-ltd-3775e774

## Summary

### Background

The case involves an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor/Respondent has been admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 15.09.2023 in CP No.25/7/HDB/2022.

## Facts

M/s. Indpro Engineering Systems Pvt Ltd & 3 others, the Financial Creditor, filed a Company Petition against M/s. Karvy Data Management Services Ltd, the Corporate Debtor. The Corporate Debtor/Respondent has been admitted into CIRP vide order dated 15.09.2023 in CP No.25/7/HDB/2022. The court has left it open for the petitioner to raise a claim before the IRP/RP. The IRP/RP is directed to examine the claim as per the provisions of the IB Code. The CIRP order passed in CP No.25/7/HDB/2022 may be set aside, or the parties may resolve the matter amicably.

## Issues and analysis

### Issue 1: Whether the petitioner should be allowed to raise a claim before the IRP/RP given that the …

**Ratio:** The principle is that once a Corporate Debtor is admitted into CIRP, all claims against

…

**Reasoning:** The court reasoned that since the Corporate Debtor has already been admitted into CIRP,

…

**Interpretation:** This means that the petitioner's claim will be considered within the framework

…

**Application:** The court applied this principle by explicitly stating that it leaves it open

…

## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** M/s. Indpro…
- **Respondents:** M/s. Karvy Data…

## Timeline

- **2023-09-15 — CIRP Admi…**: Corporate Debtor/Respondent admitted into CIRP vide order dated 15.09.2023 in CP…
- **2023-09-15 — Order Da…**: Order passed leaving it open to the…

---

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/karvy-data-management-services-ltd-3775e774