# In the matter of Value Infracon India Pvt. Ltd.

> NCLT judgment dated 2024-04-08. Citation: TCN-2024-NCLT-01784. The case involves multiple IAs (Interlocutory Applications) filed after the approval of a plan.…

- **Court:** NCLT
- **Order date:** 8 Apr 2024
- **Citation:** TCN-2024-NCLT-01784
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/value-infracon-india-pvt-ltd-36efb2c7

## Summary

### Background

The case involves multiple IAs (Interlocutory Applications) filed after the approval of a plan. The applicants have grievances that should have been raised before the SRA (State Rehabilitation Authority). The SRA's counsel states that the applicants have not effectively placed the matter before the SRA for a potential solution.

## Facts

Daimler Financial Services Pvt. Ltd. filed a case against Value Infracon India Pvt. Ltd. under Section 7 of the Insolvency & Bankruptcy Code, 2016 (CIRP). Several IAs (IA-6199/2023, IA-6529/2023, IA-6616/2023, IA-6620/2023, IA-6633/2023, IA-481/2024, IA-3578/2023, IA-4417/2023, IA-4422/2023, IA-4423/2023, IA-4424/2023, IA-4454/2023, IA-4455/2023, IA-4456/2023, IA-3989/2023, IA-3883/2023, IA-3884/2023, IA-5199/2023, IA-6132/2023, IA-5250/2023, IA-5251/2023, IA-6609/2023, IA-4795/2023, IA-4796/2023) were filed post-approval of the plan. The applicants in these IAs had grievances that should have been raised before the SRA. The SRA's counsel stated that the applicants did not effectively present their issues to the SRA. IA-4795/2023 and IA-4796/2023 were dismissed for

…

## Issues and analysis

### Issue 1: Whether the grievances raised in the IAs should have been addressed before the SRA prior to filing …

**Ratio:** Applicants with grievances post-plan approval should initially seek resolution through

…

**Reasoning:** The court emphasizes that the applicants' grievances should have been raised before the

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**Interpretation:** This highlights the importance of exhausting available administrative remedies

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**Application:** The court applied this principle by directing the applicants to approach the

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## Parties

- **Judges:** Ramalingam…; Sh. Avinash K.…
- **Appellants:** Daimler Financial…
- **Respondents:** Value Infracon…

## Timeline

- **2022-04-28 — Plan App…**: The IAs were filed…
- **2024-04-08 — Order Del…**: Order delivered on 08.04.2024, disposing of the applications and dismissing IA-4795/2023…

## 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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