# In the matter of Starlite Builders Pvt. Ltd.

> NCLT judgment dated 2023-03-13. Citation: TCN-2023-NCLT-04273. The case involves an application (IA-1392/2023) before the National Company Law Tribunal…

- **Court:** NCLT
- **Order date:** 13 Mar 2023
- **Citation:** TCN-2023-NCLT-04273
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/starlite-builders-pvt-ltd-71c5ba69

## Summary

### Background

The case involves an application (IA-1392/2023) before the National Company Law Tribunal (NCLT), New Delhi Bench. The application is considered in light of a resolution passed by the Committee of Creditors (CoC) on 2023-01-17 and the averments made in the application.

## Facts

Vision Multiplex Pvt. Ltd. filed an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 against Starlite Builders Pvt. Ltd. IA-1392/2023 was filed, and a resolution was passed by the Committee of Creditors (CoC) on 2023-01-17. Based on this resolution and the averments in the application, IA-1392/2023 was allowed. IB-465/ND/2022 was dismissed as withdrawn.

## 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 legal principle is that decisions of the Committee of Creditors (CoC) hold

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**Reasoning:** The tribunal's reasoning is based on the fact that the CoC passed a resolution and the

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**Interpretation:** This indicates that the tribunal gives deference to the commercial wisdom of

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**Application:** In this case, the CoC resolution and the averments in the application were

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## Parties

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

## Timeline

- **2023-01-17 — CoC Resol…**: The Committee of Creditors (CoC) passed a…
- **2023-03-13 — Order Del…**: The order was delivered on this date, allowing IA-1392/2023 and dismissing IB-465/ND/2022…

## 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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