# In the  matter of Ozone Projects Private Limited CP(IB)-207(CHE)-2022

> NCLT judgment dated 2023-05-02. Citation: TCN-2023-NCLT-03503. The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, to…

- **Court:** NCLT
- **Order date:** 2 May 2023
- **Citation:** TCN-2023-NCLT-03503
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ozone-projects-private-limited-cpib-207che-2022-0df8defc

## Summary

### Background

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Ozone Projects Private Limited. RDC Concrete India Private Limited, the Operational Creditor, filed the application claiming an outstanding debt.

## Facts

RDC Concrete India Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Ozone Projects Private Limited, claiming to be an Operational Creditor. The Operational Creditor claimed an outstanding amount of Rs.1,84,40,986/- as of 18.08.2022. Another Operational Creditor had already initiated CIRP against Ozone Projects Private Limited, and an Interim Resolution Professional (IRP), Mr. Rajendran Shanmugam, was appointed. The court considered the existence of the ongoing CIRP and directed RDC Concrete India Private Limited to lodge its claim with the appointed IRP.

## Issues and analysis

### Issue 1: Whether the application filed by RDC Concrete India Private Limited under Section 9 of the …

**Ratio:** The principle of avoiding parallel CIRP proceedings for the same Corporate Debtor is

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**Reasoning:** The court reasoned that since another CIRP had already been initiated against Ozone

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**Interpretation:** The court interpreted the provisions of the IBC to prevent multiple CIRP

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**Application:** The court applied the ratio by directing RDC Concrete India Private Limited to

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## Parties

- **Judges:** Ramalingam…; SAMEER…
- **Appellants:** RDC Concrete…
- **Respondents:** Ozone Projects…

## Timeline

- **2022-09-27 — Application…**: RDC Concrete India Private Limited filed an application under Section 9 of the Insolvency…
- **2022-08-18 — Outstandin…**: The Operational Creditor claimed an outstanding amount of Rs.1,84,40,986/- as of this…

## 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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