# In the matter of Supertech Ltd. IA-324-ND-2023 IB-204-ND-2021

> NCLT judgment dated 2023-01-18. Citation: TCN-2023-NCLT-05010. The case pertains to New IA/324/ND/2023 IB/204/ND/2021 before the National Company Law…

- **Court:** NCLT
- **Order date:** 18 Jan 2023
- **Citation:** TCN-2023-NCLT-05010
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/supertech-ltd-ia-324-nd-2023-ib-204-nd-2021-95074ffa

## Summary

### Background

The case pertains to New IA/324/ND/2023 IB/204/ND/2021 before the National Company Law Tribunal, New Delhi, Court – IV. It involves Union Bank Of India as the applicant and M/s. Supertech Ltd. as the respondent. The order is under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

Union Bank Of India filed an application against M/s. Supertech Ltd. under Section 7 of the IBC, 2016. The court is considering the 4th report certifying the constitution of the committee of creditors and the updated list of creditors for Project Eco Village-II, the Corporate Debtor. The report was taken on record with all just exceptions.

## Issues and analysis

### Issue 1: Whether the 4th Report certifying the constitution of the committee of creditors and the updated …

**Ratio:** Reports submitted to the court in insolvency proceedings are typically taken on record to

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**Reasoning:** The court took the report on record with all just exceptions, indicating that it

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**Interpretation:** Taking a report on record signifies the court's acceptance of the document as

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**Application:** The court's decision to take the report on record ensures that the constitution

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## Parties

- **Judges:** P.S.N. P…; BINOD KUMAR…
- **Appellants:** Union Bank of…
- **Respondents:** Project Eco…; M/s. Supertech…

## Timeline

- **2023-01-18 — Order Del…**: Order delivered on…

## 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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