# In the matter of NCR Rail Infrastructure Limited

> NCLT judgment dated 2024-03-07. Citation: TCN-2024-NCLT-02149. The case involves an application under the Insolvency and Bankruptcy Code (IBC). The order…

- **Court:** NCLT
- **Order date:** 7 Mar 2024
- **Citation:** TCN-2024-NCLT-02149
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ncr-rail-infrastructure-limited-ff96d526

## Summary

### Background

The case involves an application under the Insolvency and Bankruptcy Code (IBC). The order sheet indicates a hearing related to C.P. (IB)/386(MB)2017 and MA(IBC)/1191(MB)2019, with IDBI Capital Markets & Securities Ltd as the Operational Creditor (OC) and NCR Rail Infrastructure Limited as the Corporate Debtor (CD).

## Facts

IDBI Capital Markets & Securities Ltd filed an application (C.P. (IB)/386(MB)2017) against NCR Rail Infrastructure Limited under the Insolvency and Bankruptcy Code (IBC). Another application, MA(IBC)/1191(MB)2019, is also related to the case. The Corporate Debtor was absent during the hearing. The court disposed of both applications as infructuous due to the admission order passed in CP 1079/2022. The applicant is directed to put forth their claim before the IRP, subject to limitation, and is given liberty to revive the application if the Corporate Debtor settles with other creditors. The case is being heard by the Mumbai Bench of the National Company Law Tribunal (NCLT).

## Issues and analysis

### Issue 1: Whether the applications C.P. (IB)/386(MB)2017 and MA(IBC)/1191(MB)2019 should be disposed of as …

**Ratio:** When a prior admission order has been passed in another related case (CP 1079/2022),

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**Reasoning:** The court reasoned that the admission order in CP 1079/2022 effectively addresses the

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**Interpretation:** The interpretation is that the admission of a case under IBC takes precedence,

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**Application:** The court applied this principle by disposing of C.P. (IB)/386(MB)2017 and

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## Parties

- **Judges:** SANJIV…; K. R. SAJI…
- **Appellants:** IDBI Capital…
- **Respondents:** NCR Rail Infrastru…

## Timeline

- **2017-01-01 — Filing of C.P.…**: Application filed under the…
- **2019-01-01 — Filing of MA(IBC)/1191(M…**: Another application…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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