# In the matter of Spenta Enclave Private Limited CP (IB) No.1233-MB-IV-2022

> NCLT judgment dated 2023-03-29. Citation: TCN-2023-NCLT-03996. The case involves an application filed by Minoo Karkaria, the Financial Creditor/Applicant,…

- **Court:** NCLT
- **Order date:** 29 Mar 2023
- **Citation:** TCN-2023-NCLT-03996
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/spenta-enclave-private-limited-cp-ib-no1233-mb-iv-2022-6352698a

## Summary

### Background

The case involves an application filed by Minoo Karkaria, the Financial Creditor/Applicant, under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Spenta Enclave Private Limited, the Corporate Debtor. The Financial Creditor claims a total outstanding amount of Rs. 1,05,37,169/-. The date of default is stated to be 05.04.2022, and the petition was filed on 04.08.2022, within the period of three years from the date of default. The Corporate Debtor had sought the service of the Operational Creditor in their project known as 'Alta Vista' in Chembur, Mumbai, vide work order dated 16.03.2019. The Corporate Debtor has given the confirmation of the completion of work. The Corporate Debtor

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## Facts

Minoo Karkaria, a sole proprietor of M/s. Butterfly, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Spenta Enclave Private Limited. The claimed outstanding amount is Rs. 1,05,37,169/-, with the date of default being 05.04.2022. The petition was filed on 04.08.2022. Spenta Enclave Private Limited had engaged the services of the Operational Creditor for a project named 'Alta Vista' in Chembur, Mumbai, as evidenced by a work order dated 16.03.2019, and had confirmed the completion of the work. Spenta Enclave Private Limited filed an affidavit-in-reply on 30.11.2022, disputing the claim and asserting its inability to pay. The Adjudicating Authority noted that

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## Issues and analysis

### Issue 1: Whether the application filed by the Financial Creditor under Section 9 of the Insolvency & …

**Ratio:** The principle applied is that if a corporate debtor is already undergoing CIRP in another

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**Reasoning:** The Adjudicating Authority reasoned that since the Corporate Debtor, Spenta Enclave

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

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**Application:** In this case, the Adjudicating Authority applied the principle by dismissing

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Minoo Kar…
- **Respondents:** Spenta Enclave…
- **Advocates:** Natasha…; Jamsheed…; +2 more

## Timeline

- **2019-03-16 — Work Orde…**: Corporate Debtor sought service of Operational Creditor for 'Alta Vista' project in…
- **2022-04-05 — Date of D…**: The date of default as stated…

## 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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