# In the matter of Tattva & Mittal Lifespaces Private Limited

> NCLT judgment dated 2023-01-17. Citation: TCN-2023-NCLT-05020. The case pertains to a company petition filed by the Financial Creditor against the Corporate…

- **Court:** NCLT
- **Order date:** 17 Jan 2023
- **Citation:** TCN-2023-NCLT-05020
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/tattva-mittal-lifespaces-private-limited-748e3368

## Summary

### Background

The case pertains to a company petition filed by the Financial Creditor against the Corporate Debtor for a claim of Rs. 1,50,00,000/-. The Financial Creditor contends that the default period is from 15.02.2021 to 15.03.2021.

## Facts

The Financial Creditor filed a company petition against the Corporate Debtor for a claim of Rs. 1,50,00,000/-. The Financial Creditor stated that the default period was from 15.02.2021 to 15.03.2021. The court noted that the default period falls within the period specified under Section 10A of the Insolvency and Bankruptcy Code. Because the default occurred in 10A period, the Company Petition is not maintainable.

## Issues and analysis

### Issue 1: Whether the company petition is maintainable given that the default occurred during the period …

**Ratio:** A company petition is not maintainable if the default occurred during the period

…

**Reasoning:** The court reasoned that since the default committed by the Corporate Debtor falls within

…

**Interpretation:** Section 10A provides a specific period during which certain actions under the

…

**Application:** The court applied the ratio to the facts by determining that the default period

…

## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Ashok T…
- **Respondents:** Tattva & Mittal…

## Timeline

- **2023-01-17 — Hearing…**: Order sheet of the…
- **2021-02-15 — Default Perio…**: Start of the default period as…

## 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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