# In the matter of Radius & Deserve Builders LLP

> NCLT judgment dated 2023-11-20. Citation: TCN-2023-NCLT-00706. The case pertains to C.P.(IB)-1315/MB/2022 before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 20 Nov 2023
- **Citation:** TCN-2023-NCLT-00706
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radius-deserve-builders-llp-19e5265b

## Summary

### Background

The case pertains to C.P.(IB)-1315/MB/2022 before the National Company Law Tribunal (NCLT), Mumbai Bench. The Financial Creditor's counsel informed the court that the Corporate Debtor was already undergoing Corporate Insolvency Resolution Process (CIRP) based on an admission order dated 2023-09-27 passed by the NCLT, Court-VI in C.P.(IB)-592/MB/2022.

## Facts

Vistra Itcl (India) Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 against Radius & Deserve Builders LLP. Adv. Raveena Modi appeared for the Financial Creditor. No one appeared for the Corporate Debtor. The Financial Creditor's counsel informed the court that CIRP had already been initiated against the Corporate Debtor vide an order dated 2023-09-27 in C.P.(IB)-592/MB/2022. The court then declared the application C.P.(IB)-1315/MB/2022 as infructuous.

## Issues and analysis

### Issue 1: Whether the application C.P.(IB)-1315/MB/2022 should be continued given that CIRP has already been …

**Ratio:** When a Corporate Debtor is already undergoing CIRP, any subsequent application for

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**Reasoning:** The court reasoned that since the Corporate Debtor was already undergoing CIRP based on

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**Interpretation:** The interpretation is that IBC aims to consolidate insolvency proceedings to

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**Application:** The ratio and reasoning were applied to the facts of the case, where the

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## Parties

- **Judges:** LAKSHMI G…; SH. CHARANJEET…
- **Appellants:** Vistra ITCL…
- **Respondents:** Radius & Deserve…

## Timeline

- **2023-09-27 — CIRP Admissio…**: NCLT passed an order admitting the Corporate…
- **2023-10-20 — Order Declaring…**: NCLT declared C.P.(IB)-1315/MB/2022 as infructuous and disposed of it due to the ongoing…

## 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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