# In the matter of Mantovani Di Dharti Pvt. Ltd. CP (IB) No. 187-9-HDB-2022

> NCLT judgment dated 2022-11-11. Citation: TCN-2022-NCLT-00479. The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against…

- **Court:** NCLT
- **Order date:** 11 Nov 2022
- **Citation:** TCN-2022-NCLT-00479
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mantovani-di-dharti-pvt-ltd-cp-ib-no-187-9-hdb-2022-9ba7b57b

## Summary

### Background

The case pertains to a Corporate Insolvency Resolution Process (CIRP) initiated against Mantovani Di Dharti Pvt Ltd, the Corporate Debtor, based on an application filed by Ultratech Cement Ltd, the Operational Creditor. The Tribunal admitted the Corporate Debtor into CIRP under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

Ultratech Cement Ltd, the Operational Creditor, filed an application against Mantovani Di Dharti Pvt Ltd, the Corporate Debtor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Tribunal admitted the Corporate Debtor into CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The order references CP (IB) No.149/7/HDB/2022, indicating a related case. The Operational Creditor is directed to approach the IRP appointed in CP (IB) No.149/7/HDB/2022, and the IRP is directed to receive the claim from the petitioner. The matter can be settled or set aside between the parties in CP (IB) No.149/7/HDB/2022 under the provisions of the Code. CP(IB) No. 187/9/HDB/2022 is disposed of.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be admitted into Corporate Insolvency Resolution Process (CIRP) …

**Ratio:** The legal principle applied is Section 7 of the Insolvency and Bankruptcy Code, 2016,

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**Reasoning:** The Tribunal admitted the Corporate Debtor into CIRP, implying that it found sufficient

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**Interpretation:** Section 7 of the IBC allows an operational creditor to initiate CIRP against a

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**Application:** In this case, the Tribunal applied Section 7 of the IBC to the facts presented

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. AJAI DAS…
- **Appellants:** Ultratech Cement…
- **Respondents:** Mantovani Di…

## Timeline

- **2022-11-11 — Hearing…**: Hearing held on 11-11-2022 at…
- **2022-11-11 — Order Da…**: Order dated 11.11.2022 passed…

## 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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