# In the matter of Starlite Builders Pvt. Ltd.

> NCLT judgment dated 2023-03-13. Citation: TCN-2023-NCLT-04263. The case involves Vision Multiplex Pvt. Ltd. as the applicant/petitioner and Starlite Builders…

- **Court:** NCLT
- **Order date:** 13 Mar 2023
- **Citation:** TCN-2023-NCLT-04263
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/starlite-builders-pvt-ltd-6bea7b7f

## Summary

### Background

The case involves Vision Multiplex Pvt. Ltd. as the applicant/petitioner and Starlite Builders Pvt. Ltd. as the respondent. The application is under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. IA-1392/2023 is allowed based on the resolution dated 17.01.2023 passed by the Committee of Creditors (CoC) and the averments made in the application. IB-465/ND/2022 is dismissed as withdrawn.

## Facts

Vision Multiplex Pvt. Ltd. initiated a case against Starlite Builders Pvt. Ltd. under Section 7 of the IBC, 2016. IA-1392/2023 was filed and a resolution was passed by the Committee of Creditors (CoC) on January 17, 2023. Based on this resolution and the averments in the application, IA-1392/2023 was allowed. Separately, IB-465/ND/2022 was dismissed as withdrawn, suggesting a possible settlement or change in circumstances.

## Issues and analysis

### Issue 1: Whether IA-1392/2023 should be allowed based on the resolution passed by the CoC and the averments …

**Ratio:** The resolution passed by the CoC and the averments in the application provide sufficient

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**Reasoning:** The court considered the resolution passed by the CoC on 17.01.2023 and the averments

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**Interpretation:** The CoC's resolution is a significant factor in insolvency proceedings,

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**Application:** In this case, the CoC's resolution supported the averments in IA-1392/2023,

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## Parties

- **Judges:** SHRI. ASHOK KUMAR…; Shri. L. N.…
- **Appellants:** Vision Multiplex…
- **Respondents:** Starlite Builders…

## Timeline

- **2023-01-17 — CoC Resol…**: Resolution passed by the…
- **2023-03-13 — Order Del…**: Order delivered by the NCLT allowing…

## 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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