# In the matter of SOLITAIRE INFOMEDIA PRIVATE LIMITED

> NCLT judgment dated 2025-06-03. Citation: TCN-2025-NCLT-00026. This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 3 Jun 2025
- **Citation:** TCN-2025-NCLT-00026
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/solitaire-infomedia-private-limited-00bd0fe6

## Summary

### Background

This case involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Kapil Kumar & Ors. (Financial Creditors) against M/s Solitaire Infomedia Private Limited (Corporate Debtor) to initiate the Corporate Insolvency Resolution Process (CIRP). The petition was filed due to the Corporate Debtor's failure to repay a debt of Rs. 12,72,38,406.66. The Corporate Debtor was allotted land by GNIDA and entered into a collaboration agreement with Premia Projects Limited, where Premia Projects Limited was to develop the land. However, Premia Projects Limited failed to deliver possession of the plots to the allottees, leading to the initiation of insolvency proceedings against Premia Projects Limited. The present petition is preferred by 75

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## Facts

The Corporate Debtor, M/s Solitaire Infomedia Private Limited, was incorporated on 24.07.2007. GNIDA allotted a plot of land to the Corporate Debtor on 11.03.2009. On 01.10.2012, the Corporate Debtor entered into a collaboration agreement with M/s Premia Projects Limited, handing over possession of the land for development. Tarun Sheinh became a director of the Corporate Debtor on 01.10.2012 and held 95% equity of Premia Projects Limited as of 31.03.2015, effectively controlling both entities. Premia Projects Limited failed to grant possession of the allotted flats, leading to insolvency proceedings against Premia Projects Limited under Section 7 of the Code (CP IB No. 104 of 2018), which was admitted on 30.05.2018. The present petition is filed by 75 applicants

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## Issues and analysis

### Issue 1: Whether the petition falls within the ambit of Section 7 of the Insolvency and Bankruptcy Code, …

**Ratio:** Section 7 of the IBC allows a financial creditor to initiate CIRP against a corporate

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**Reasoning:** The Adjudicating Authority examined the records and found that there was a debt and a

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**Interpretation:** Section 7 provides the mechanism for financial creditors to trigger the

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**Application:** The Adjudicating Authority applied Section 7 to the facts of the case, finding

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; SUBRATA KUM…
- **Appellants:** Kapil K…
- **Respondents:** M/S Solitaire…
- **Advocates:** Aditya M…; Muskan Ch…; +4 more

## Timeline

- **2007-07-24 — Incorporation of…**: M/s Solitaire Infomedia…
- **2009-03-11 — Land Allo…**: Greater Noida Industrial Development Authority (GNIDA) allotted a plot of land to the…

## 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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