# In the matter of Samiah International Builders Limited (IB)-1320(ND)-2019

> NCLT judgment dated 2022-10-04. Citation: TCN-2022-NCLT-00846. The case involves a petition filed by Mr. Nitin Mehta and others, acting as…

- **Court:** NCLT
- **Order date:** 4 Oct 2022
- **Citation:** TCN-2022-NCLT-00846
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samiah-international-builders-limited-ib-1320nd-2019-198275a2

## Summary

### Background

The case involves a petition filed by Mr. Nitin Mehta and others, acting as 'Applicant/Financial Creditor', under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The applicants sought to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited, the 'Respondent'. The applicants claimed to have booked units in the 'Green View Apartment' project developed by the respondent and defaulted on payments.

## Facts

Mr. Nitin Mehta and several others ('Applicants/Financial Creditors') filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Samiah International Builders Limited ('Respondent'). The Respondent is a company incorporated on 19.09.2003. The Applicants claimed to have booked units in the 'Green View Apartment' project located at Chorosia Estate, Greater Noida, which was being developed by the Respondent along with Arcmate Housing Solutions Pvt. Ltd. under the name Arcmate Samiah Consortium. The Applicants alleged that the Respondent neither handed over possession of the units nor refunded the payments made. The Respondent argued that the Applicants booked their apartments by

…

## Issues and analysis

### Issue 1: Whether the present application is maintainable under Section 7 of the Insolvency and Bankruptcy …

**Ratio:** Section 7 of the IBC, 2016, requires that an application to initiate CIRP must be filed

…

**Reasoning:** The court examined the number of allottees who had filed the application and compared it

…

**Interpretation:** The court interpreted Section 7(1) of the IBC, 2016, to mean that the

…

**Application:** The court applied the ratio to the facts of the case and found that the

…

## Parties

- **Judges:** Sh. Dharminder…; SH. L. N.…
- **Appellants:** Nitin M…
- **Respondents:** Samiah Internation…

## Timeline

- **2003-09-19 — Company Incor…**: M/s. Samiah International…
- **2013-06-18 — Partnershi…**: Arcmate Housing Solutions Pvt. Ltd. and Respondent entered into a registered partnership…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/samiah-international-builders-limited-ib-1320nd-2019-198275a2