# In the matter of Marianella Properties Private Limited

> NCLT judgment dated 2024-03-26. Citation: TCN-2024-NCLT-01939. The case involves Marianella Properties Private Limited and pertains to Section 10 of the…

- **Court:** NCLT
- **Order date:** 26 Mar 2024
- **Citation:** TCN-2024-NCLT-01939
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/marianella-properties-private-limited-197e1549

## Summary

### Background

The case involves Marianella Properties Private Limited and pertains to Section 10 of the Insolvency and Bankruptcy Code, 2016. The order sheet reflects the hearing on March 26, 2024. The corporate applicant's counsel has served the petition copy to the Financial Creditor, but service to the IBBI is pending.

## Facts

Mr. Prakhar Tandon, Advocate, appeared for the Petitioner. The Learned Counsel for the Corporate Applicant informed the court that a copy of the petition has already been served to the Financial Creditor. However, the service of the petition to the IBBI is yet to be completed. The matter is listed for hearing on 18.04.2024. The case pertains to Section 10 of the Insolvency and Bankruptcy Code, 2016, and involves Marianella Properties Private Limited.

## Issues and analysis

### Issue 1: Whether the service of the petition to all relevant parties, including the IBBI, has been duly …

**Ratio:** Proper service of the petition to all relevant parties, including the Financial Creditor

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**Reasoning:** The court emphasizes the importance of serving the petition to all relevant parties to

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**Interpretation:** The interpretation of the law requires strict adherence to the procedural

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**Application:** In this case, since the IBBI has not been served, the court cannot proceed

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Respondents:** MARIANELLA…

## Timeline

- **2024-03-26 — Hearing…**: Order sheet of the…
- **2024-04-18 — Next Hearin…**: Matter listed for…

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