# In the matter of Lifestyle Fitness Private Limited IA-2219-2023 in IB-310-ND-2019

> NCLT judgment dated 2023-06-16. Citation: TCN-2023-NCLT-02890. The case involves an application (IA-2219/2023) in the matter of IB-310(ND)/2019 before the…

- **Court:** NCLT
- **Order date:** 16 Jun 2023
- **Citation:** TCN-2023-NCLT-02890
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/lifestyle-fitness-private-limited-ia-2219-2023-in-ib-310-nd-2019-13b85b2e

## Summary

### Background

The case involves an application (IA-2219/2023) in the matter of IB-310(ND)/2019 before the National Company Law Tribunal (NCLT), New Delhi. Ms. Suman Chadha, the applicant/operational creditor, filed the application against M/s Lifestyle Fitness Private Limited, the respondent/corporate debtor. Kamal Agarwal is the liquidator of the corporate debtor, M/s Lifestyle Fitness Private Limited in liquidation. Aashish Gupta and Poonam Gupta, both ex-directors of the corporate debtor, are listed as non-applicants No. 1 and No. 2 respectively. Suman Chadha is also listed as applicant/operational creditor. Vijay Yadav and Gulshan Bhutani are also listed as operational creditors. State Bank of India is also listed as a non-applicant.

## Facts

Ms. Suman Chadha, an operational creditor, initiated proceedings against M/s Lifestyle Fitness Private Limited, the corporate debtor, under the Insolvency and Bankruptcy Code (IBC). Kamal Agarwal is the liquidator for the corporate debtor. Aashish Gupta and Poonam Gupta, former directors of the corporate debtor, are also involved in the proceedings. Vijay Yadav and Gulshan Bhutani are also operational creditors. The State Bank of India is also involved. The NCLT was hearing application IA-2219/2023 in connection with the insolvency case IB-310(ND)/2019.

## Issues and analysis

### Issue 1: Whether the application …

**Ratio:** The ratio is based on the tribunal's assessment of the application's merits and

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**Reasoning:** The reasoning for disposing of the application is not detailed in the provided document

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**Interpretation:** The disposal of the application signifies that the NCLT has made a

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**Application:** The NCLT applied its understanding of the IBC to the specific facts of the

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** Suman C…
- **Respondents:** M/s Lifestyle…

## Timeline

- **2023-06-16 — Order Pron…**: Order pronounced on 16.06.2023.…

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