# In the matter of Nikhil Footwears Private Limited IB-748-(ND)-2020

> NCLT judgment dated 2022-03-10. Citation: TCN-2022-NCLT-03808. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 10 Mar 2022
- **Citation:** TCN-2022-NCLT-03808
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/nikhil-footwears-private-limited-ib-748-nd-2020-6f9a8dd0

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by M/s Swastik Sales and Services for initiating the Corporate Insolvency Resolution Process (CIRP) against M/s Nikhil Footwears Private Limited, the respondent Corporate Debtor. Another application under Section 9 of the Insolvency and Bankruptcy Code, 2016, in the matter of IB-2032/ND/2019 has already been admitted, initiating CIRP against the same respondent.

## Facts

M/s Swastik Sales and Services filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Nikhil Footwears Private Limited. However, another application, IB-2032/ND/2019, under the same section of the same code, had already been admitted, and CIRP had been initiated against M/s Nikhil Footwears Private Limited. This prior admission rendered the subsequent application by M/s Swastik Sales and Services infructuous, as the CIRP was already in progress.

## Issues and analysis

### Issue 1: Whether the application filed by M/s Swastik Sales and Services for initiating Corporate Insolvency …

**Ratio:** When a Corporate Insolvency Resolution Process (CIRP) has already been initiated against

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**Reasoning:** The court reasoned that since another application (IB-2032/ND/2019) had already been

…

**Interpretation:** The interpretation is that once CIRP has been initiated against a Corporate

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**Application:** In this case, because IB-2032/ND/2019 was already admitted and CIRP initiated

…

## Parties

- **Judges:** Sh. Dharminder…; SUMITAPURKA…
- **Appellants:** M/s Swastik Sales…
- **Respondents:** M/s Nikhil…

## Timeline

- **2020-01-01 — Case Fil…**: Application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s…
- **2019-01-01 — Prior Appli…**: Another application (IB-2032/ND/2019) filed under Section 9 of the Insolvency and…

## 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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